Ukraine: European Union officials have stated that the bloc is preparing $22 billion fund to help Ukraine with weapons, ammunition, and military aid in its war against Russia. Mr. Josep Borrell, the bloc’s foreign policy chief, summarised the four-year proposal to EU foreign ministers meeting in Brussels.
Following the meeting, Mr. Borrell noted that the EU would “transform existing support into a long-term commitment to Ukraine’s security and resilience.”
“We propose the creation of a dedicated section on the European Peace Facility (EPF) to provide up to $5.5 billion a year for the next four years for the defence needs of Ukraine,” the foreign policy chief commented.
“This is an evaluation of the needs and costs of our long-term security commitments to Ukraine,” Mr. Borrell told reporters.
The proposal came during an international drive to support Ukraine, as announced by members of the G7 group on the sidelines of the NATO summit in Lithuania’s capital, Vilnius.
At that summit, NATO leaders stressed that Ukraine should be able to join the military alliance in the future but did not offer an immediate invitation, which was not the outcome that Ukrainian officials had hoped for.
“Ukraine’s future is in NATO,” the officials said in a declaration, but offered no timeline for the process.
During the foreign affairs council, EU foreign ministers were shown the fund plan, but a more detailed debate will take place at their meeting in the Spanish city of Toledo.
Some member states, mainly Hungary, may oppose the idea, and final political approval can be expected only after European leaders meet at EU summits in October or December 2023.
The EPF, created in 2021, is aimed at financing actions that prevent conflicts, build peace, and strengthen international security. It was initially worth $6.3 billion but has since grown to $13.4 billion. The facility is used to assist EU countries with at least part of the cost of weapons, ammunition, and other military aid that they give to nations outside the bloc.
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