The European Union is considering creating a new €100 billion ($117 billion) fund to support Ukraine as its war with Russia shows no sign of ending.
Bloomberg writes about this, citing sources informed on the matter.
EU may create new fund for Ukraine
According to them, this money could be included in the draft of the next seven-year budget, which will be presented this month.
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“If EU member states agree to this in budget negotiations, funding would start in 2028 to maintain stable financial aid to the war-torn country,” the sources said.
The proposal will be discussed as part of the development of the new multiannual financial framework (MFF), which the European Commission will present on 16 July.
The new funding fund will be in line with the existing model under which the European Commission provides assistance to Ukraine, i.e. it may include grants and soft loans.
Since the start of the full-scale invasion, the EU has provided almost €160 billion in aid to Ukraine. This includes a €50 billion fund that provides grants and loans until 2027, as well as €50 billion from the proceeds of frozen Russian assets.
European Commissioner for Economic Affairs Valdis Dombrovskis said yesterday that the EU is working on various options for supporting Ukraine, including through income from frozen Russian assets.
