EU mulling EUR 100 bln for Ukraine in next draft budget – media
The European Union is considering creating a EUR 100 billion (about $117 billion) fund to support Ukraine, Bloomberg has reported.
"The money may become part of the EU’s proposal for its next seven-year budget, which is due to be presented later this month, according to people familiar with the matter. If accepted by member states as part of budgetary negotiations, the funding would start being disbursed in 2028 to maintain steady financial assistance to the war-torn country, the people said, speaking on condition of anonymity,” the report said.
The move would further shift the burden of supporting Ukraine to Europe, rather than the United States. The administration of US President Donald Trump had been skeptical about providing additional aid to Kyiv and even halted some arms shipments last week, before reversing course on Monday.
The new funding scheme would fit into the existing model, in which the European Commission, the EU’s executive arm, provides aid to Ukraine in the form of grants and cheap loans. Most of the payments were linked to reforms that the Ukrainian government must implement to become an EU member.
This idea is being considered along with other options and will be discussed before the details of the next Multiannual Financial Framework (MFF) are published. This is due to happen on July 16, although some elements may appear later.
A Commission representative declined to comment on the details of the next MFF proposal before it is published.