Thu. Sep 19th, 2024
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Agenda of the Special European Council, 1 February 2024
01 February
Mid-term revision of EU long-term budget 2021-2027
In the face of unprecedented and unexpected challenges, including Russia’s war of aggression against Ukraine, the global COVID-19 pandemic and rising interest rates, the EU’s long-term budget needs to be reinforced as it has come under pressure.
In this context, leaders will discuss the proposed mid-term revision of the multiannual financial framework (MFF) 2021-2027, which includes the creation of a Ukraine Facility to provide long-term stability to Ukraine and the strategic technologies for Europe platform (STEP) to make Europe more competitive.
In December, on the basis of the negotiating box, leaders discussed how to finance our most pressing needs and future priorities, including support to Ukraine, migration and the external dimension, next Generation EU interest payments and special instruments. The negotiating box provides for an additional financial envelope of €64.6 billion, which should be spent on the following new priorities:
- €50 billion for the Ukraine Facility (€17 billion in grants and €33 billion in loans)
- €2 billion for migration and border management
- €7.6 billion for the neighbourhood and the world
- €1.5 billion for the European Defence Fund under the new STEP instrument
- €2 billion for the flexibility instrument
- €1.5 billion for the solidarity and emergency aid reserve
On 10 January 2024, EU ambassadors approved partial mandates on the Ukraine Facility and on STEP.
Mid-term revision of the EU long-term budget 2021-2027 (background information)
Timeline – Mid-term revision of the EU long-term budget 2021-2027 (background information)
Details
- Date:
- 01 February
- Event Categories:
- European Council, EVENT, IEU AGENDA
- Event Tags:
- Special European Council
Venue
- European Council
Organizer
- European Council
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