EU To Allocate $52.8 Billion For Ukraine's Rehabilitation

The European Parliament has voted to support a proposal to allocate 50 billion euros ($52.8 billion) for Ukraine's "recovery, reconstruction, and modernization from 2024," as announced by the parliament's press office, as reported by Kyiv Independent.

The official adoption package for Ukraine will be subject to a vote in the coming months, alongside the revision of the long-term EU budget. I Photo: Ministry of Internal Affairs of Ukraine Wikimedia Commons

The Ukraine Facility will be integrated into the EU's long-term budget, which "has been significantly depleted due to the multiple crises since 2021," according to the press office. The official adoption package will be subject to a vote in the coming months, alongside the revision of the long-term EU budget.

Later in the day, Infrastructure Minister Oleksandr Kubrakov revealed that the US will provide Ukraine with nearly $700 million in funding to enhance and modernize the country's logistics and transport infrastructure.

Kubrakov's announcement followed discussions with Penny Pritzker, the US Special Representative for Economic Recovery in Ukraine, who arrived in Kyiv on October 16.

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