The EU could allocate over €9 billion to Ukraine as early as June
This is according to Politico, citing sources among EU officials.
The first funds could arrive as early as June
According to the publication, the European Commission plans to agree on a memorandum of understanding setting out the conditions for providing macro-financial assistance to Ukraine. The first tranche is expected to be paid out in mid-June. Part of the funds — around €5.9 billion — is planned to be used to purchase drones for Ukraine. A further €3.2 billion could be used to cover budgetary expenditure, including military salaries and funding for state needs. Politico notes that half of the EU loan programme will be disbursed this year, with the remainder in 2027.
The EU is seeking additional sources of funding
EU leaders agreed on the €90 billion loan programme back in December following lengthy discussions on the use of frozen Russian assets. As Politico reports, Brussels is continuing to discuss the possibility of using Russian funds to repay Ukraine’s debt should Moscow refuse to pay reparations after the war ends. At the same time, the EU recognises that Ukraine’s needs may grow. Current estimates of Ukraine’s budget deficit for the next two years amount to at least €135 billion. Next week, the European Commission plans to discuss additional support for Ukraine with G7 countries during a meeting of finance ministers in Paris.
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