MEPs approve long-term funding for Ukraine, the “Strategic Technologies for Europe Platform” (STEP), and associated major changes to the multi-year EU budget.
Parliament on Tuesday approved the revision of the EU’s long-term budget – the multiannual financial framework (MFF). This includes the €50 billion Ukraine Facility and the “Strategic Technologies for Europe Platform” (STEP), which aims to make the EU more strategically independent and to foster innovation.
« The European Parliament voted to approve the 50 billion euro ($54 billion) funding package for Ukraine, known as the Ukraine Facility, as part of the EU budget on Feb. 27. The package provides funding to Ukraine from 2024 to 2027, with 33 billion euros ($35.8 billion) available in loans and 17 billion euros (18.5 billion) in grants.
After months of obstruction by Hungary, European leaders agreed on the four-year financing for Kyiv during a European Council summit on Feb. 1. The Ukraine Facility was approved in the European Parliament with 536 votes in favor, 40 against, and 39 abstentions.
After the European Council agreed to the financing, members of the European Parliament (MEPs) negotiated the establishment of a « Ukraine Facility Dialogue, » the parliament said.
This guarantees that MEPs will have « regular discussions with the (European) Commission every four months on the progress and implementation of the Facility, fostering greater transparency and democratic oversight. »
The European Parliament also strengthened the involvement of the Verkhovna Rada, Ukraine’s parliament, which « has significantly enhanced the democratic legitimacy of the Facility in Ukraine. » -the Kyiv Independent writes.
Revision of the EU long-term budget
This update of the MFF, approved with 499 votes in favour, 67 against and 31 abstentions, will enable the EU budget to respond more effectively to evolving needs and unforeseen circumstances. In particular, it bolsters the EU’s budget to deal with migration and external challenges as well as the EU’s crisis preparedness and budgetary flexibility. In line with Parliament’s demands, the revision introduces a mechanism to tackle escalating costs linked to the repayment of the NextGenerationEU recovery plan amid rising interest rates. MEPs reached a deal with member states on the long-term budget on 6 February.
« Strategic Technologies for Europe Platform” (STEP)
The platform was approved with 517 votes in favour, 59 against and 51 abstentions. It is another part of the budgetary revision package and aims to consolidate and enhance Europe’s standing in crucial technological fields. These fields include digital technologies, clean and resource-efficient technologies, such as net-zero technologies, and biotechnologies.
