Costa assures that the EU is on the verge of making a decision on financing for Ukraine
Kyiv • UNN
The President of the European Council, António Costa, is confident that a decision on financing for Ukraine for 2026-2027 will be made at the December EU summit. He noted that the bloc is "very close to reaching a decision" amid the proposal of two options: a "reparations loan" or EU borrowing.
The President of the European Council, António Costa, is convinced that a decision will be made at the December EU summit regarding financing for Ukraine for the next two years, estimating that the bloc is "very close to reaching a solution," as he stated at a joint press conference with Irish Prime Minister Micheál Martin in Dublin on December 9, writes UNN.
Our previous decision was very clear: we will support Ukraine's financial needs for 2026-2027. We are now working to clarify the decision to find a legal and technical solution that could gain the consent of all or at least a qualified majority of member states. The European Commission is doing a very good job, working closely with all national governments, and I think we are very close to reaching a solution, and I am confident that on December 18 we will make a decision.
Recall
At next week's EU summit, "important discussions" will be held, with Ukraine and security in Europe being one of the priority issues. Ukrainian President Volodymyr Zelenskyy is expected to participate, as announced by the President of the European Council, António Costa, who called the main priority of the meeting ensuring "important decisions that need to be made, particularly regarding financing for Ukraine."
Two options are proposed - either a "reparation loan" using frozen Russian assets, which Belgium, where most of these funds are held, opposes due to fears of Moscow's retaliation, or EU borrowing, which also faces resistance due to the burden on national budgets.
According to the IMF's assessment, Ukraine's budget deficit will reach 135 billion euros in the next two years.