EU considers $117 billion fund for Ukraine in next budget
Drafting its next seven-year budget, the European Union is mulling allocating EUR100 billion ($117 billion) to support Ukraine, Bloomberg reported on July 8, citing sources familiar with the matter.
According to the sources, the funds could be included in the budget draft scheduled for release later in July. If EU members agree to the proposal during budget talks, financing is expected to start in 2028.
The report noted that since Russia launched its full-scale invasion, the EU has provided Ukraine with nearly EUR160 billion ($188 billion) in aid. That assistance includes a EUR50 billion fund offering grants and loans through 2027. In addition, the bloc, along with the G7, set up a $50 billion Ukraine credit facility that leverages proceeds from frozen Russian assets.
The planned aid mechanism will mirror the current model in which the European Commission offers support to Kyiv via grants and low-interest loans.
On July 4, following a massive Russian air strike on Kyiv, the European Commission pledged increased assistance to Ukraine as the country continues to defend against Russian aggression and negotiate its entry into the EU.
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