The European Commission has launched the procedure to continue funding for Ukraine in 2027. Brussels has submitted a proposal to the EU Council for formal approval of the second half of the loan totaling €90 billion.
Member states are expected to examine the proposal and approve the allocation of the funds. They must provide budgetary support to Ukraine, as well as resources to strengthen its defence.
„The funds will provide Ukraine with vital budgetary support and defence capabilities“, the European Commission said.How the funds will be allocated
Up to €13.3 billion is earmarked to support the Ukrainian budget. Another €31.7 billion is to be allocated to defence. This brings the total amount of funding to €45 billion.
The money is part of a wider EU loan of €90 billion. The new proposal concerns the continuation of support next year, after payments have already been made in various areas.
What support has been provided so far
Since the start of the Russian military offensive against Ukraine, the European Union has provided a total of €231.6 billion in support. This includes €3.8 billion from proceeds from Russian assets frozen under EU sanctions.
Ukraine has so far received €3.2 billion in macro-financial assistance under the loan, €15.8 billion for defence and €800 million for reforms.
The European Commission's proposal is now being considered by the EU Council. Approval from member states is needed to continue funding for Ukraine's budget and defense capabilities in 2027.
Sources: bta.bg