All 27 EU leaders have agreed a €50bn (£42bn; $54bn) aid package for Ukraine, after Hungary stopped blocking the deal.

Ukrainian President Volodymyr Zelensky welcomed the new funding, saying it would strengthen the country’s economic and financial stability.

Ukraine’s economic ministry said it expects the first tranche in March.

There had been fears Hungary’s PM would again block the package as he did at a European summit in December.

Viktor Orban, Russian President Vladimir Putin’s closest ally in the EU, had said he wanted to force a rethink of the bloc’s policy towards Ukraine and questioned the idea of committing funds for Kyiv for the next four years.

The new funding promise comes as aid from the US - the largest provider of military support for Kyiv - is being held up by Congress.

“I think it will be an encouragement for the United States also to do their fair share,” European Commission President Ursula von der Leyen said.

The agreement was announced less than two hours after the summit started, surprising many observers who had expected talks to go on much longer due to the depth of disagreement between Mr Orban and the other EU leaders.

On the streets of Kyiv, people welcomed the news. “It’s great. All this support, money, ammunition, humanitarian help are all important for our country, and we thank all the world for supporting us,” one man told the BBC.

However, this EU funding package is not for the frontline - it’s for life in the rear. War is an expensive endeavour, and budget revenue in Ukraine is being swallowed up funding the fighting.