The European Union is considering creating a €100 billion fund to support Ukraine. The money could be part of the EUʼs proposal for the next seven-year budget, which is expected to be presented later this month.
Bloomberg writes about this, citing sources.
If member states approve the idea during budget negotiations, funding would start flowing in 2028.
The new financing mechanism should build on the existing model, under which the European Commission, the EUʼs executive body, provides assistance to Ukraine in the form of grants and soft loans. Most of the tranches are linked to reforms that the Ukrainian government must implement to join the EU.
The idea is being considered alongside other options and will be discussed before the details of the next Multiannual Financial Framework (MFF) are declared. This is due to happen on July 16, although individual elements could be presented later, sources said.
- The EU has provided almost €160 billion in aid to Ukraine since Russia’s invasion three and a half years ago. This includes a €50 billion fund that provides grants and loans until 2027. Together with the G7 countries, the EU has also set up a $50 billion facility based on loans financed by proceeds from frozen assets of the Russian Central Bank.
For more news and in-depth stories from Ukraine, please follow us on X.