Ukrainian President Volodymyr Zelenskyy (left), looks on as EU Commission President Ursula von der Leyen speaks during a joint press conference at Mariinsky Palace in Kyiv, Ukraine, Feb 24, 2024. (PHOTO / AP)

BRUSSELS/KYIV - The Council of the European Union approved the creation of the Ukraine Assistance Fund on Monday and earmarked 5 billion euros ($5.4 billion) for it.

The decision was reached at EU's Foreign Affairs Council in Brussels, where ministers discussed EU support for Ukraine and the situation in the Middle East.

UAF will allow the EU to further support the evolving needs of the Ukrainian Armed Forces "through the provision of both lethal and non-lethal military equipment and training," the Council said.

Since the start of the Russia-Ukraine conflict in February 2022, the EU has given or committed over 138 billion euros in aid to Ukraine, of which 28 billion euros was military support. Between 2022 and 2024, the EU mobilized 6.1 billion euros (about $6.64 billion) for Ukraine under the European Peace Facility.

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Kyiv is counting on receiving 4.5 billion euros (about $4.9 billion) under the Ukraine Facility program this month and another 1.5 billion euros (about $1.6 billion) in April, according to a statement

Ukrainian Foreign Minister Dmytro Kuleba welcomed the decision of the EU, the Ukrainian Foreign Ministry said Monday.

Speaking at the meeting of the EU Foreign Affairs Council, Kuleba said that the move to unlock the aid was an important step for Ukraine.

Kuleba also thanked the Czech Republic for its initiative to purchase artillery ammunition for Ukraine and appreciated the countries that have joined the initiative.

Last month, the Czech Republic proposed to EU countries to jointly purchase 800,000 artillery shells and send them to Ukraine. 

Meanwhile, the Ukrainian government approved the Plan for the Ukraine Facility, which was required by the EU to allocate 50 billion euros (about $54.5 billion) in financing for Kiev in 2024-2027, the cabinet's press service reported Monday.

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"The Plan for the Ukraine Facility provides for the implementation of structural reforms in the public sector, and the implementation of many economic reforms aimed at the development of the business climate and entrepreneurship," said a statement on the government's website.

Under the plan, Ukraine is to implement more than 150 indicators in 69 reform directions by 2027, it said.

According to the statement, Kyiv is counting on receiving 4.5 billion euros (about $4.9 billion) under the Ukraine Facility program this month and another 1.5 billion euros (about $1.6 billion) in April.

Ukrainian Prime Minister Denys Shmyhal said on Telegram that his country will get 16 billion euros (about $17.4 billion) from the EU this year if it implements the reforms under the approved plan.