European Union leaders on Thursday reached an settlement to create a 50 billion euro fund for Ukraine, bringing on board Prime Minister Viktor Orban of Hungary, who was the first impediment to a deal.
“We have a deal. #Unity All 27 leaders agreed on an additional €50 billion support package for Ukraine within the EU budget,” the president of the European Council, Charles Michel, said on social media simply an hour into the assembly. “This locks in steadfast, long-term, predictable funding for #Ukraine. EU is taking leadership & responsibility in support for Ukraine; we know what is at stake.”
What, if something, Mr. Orban obtained in trade for giving up his veto for the fund, valued at about $54 billion, was not instantly clear.
He had been demanding an annual likelihood to veto the disbursement of cash to Ukraine, however that was rejected. As a substitute, E.U. leaders agreed to a daily overview of the way in which the cash was being spent, to assuage considerations about diversion or corruption, E.U. officers stated.
