EU considers creating a €100 billion fund to support Ukraine in the new budget
Kyiv • UNN
The European Union is considering creating a 100 billion euro fund for long-term support to Ukraine, which will start flowing from 2028. This will strengthen Europe's role in financing Ukraine amid uncertainty regarding aid from the United States.
The European Union may include a 100 billion euro fund for long-term support of Ukraine in the bloc's next seven-year budget, amid a protracted war with Russia. This was reported by Bloomberg, citing informed sources, according to UNN.
Details
According to the agency's interlocutors, funding will begin to flow from 2028 if the proposal is approved by member states during budget negotiations. The funds are intended to provide stable financial support to Ukraine in the context of Russia's full-scale invasion, which has been ongoing for more than three and a half years.
This move is likely to strengthen Europe's role in financing Ukraine amid growing uncertainty regarding the United States. The Donald Trump administration is skeptical about new aid to Kyiv.
Since the beginning of Russia's full-scale invasion, the EU has already provided Ukraine with almost 160 billion euros, including the current aid package of 50 billion euros, which provides for grants and loans until 2027. In addition, together with the Group of Seven countries, the European Union launched a separate credit support instrument of 50 billion dollars, financed by profits from frozen assets of the Central Bank of Russia.
The new financial program is expected to operate under a similar scheme. In particular, through grants and concessional loans, which the European Commission provides on the condition that Ukraine implements the necessary reforms on its path to EU membership.
Details of the proposal are expected to be unveiled as part of the presentation of the EU's new Multiannual Financial Framework, scheduled for July 16. Sources note that some elements may be presented later.
Addition
In June, the European Commission informed EU finance ministers that Ukraine's current financial needs are covered until early 2027. At the same time, Brussels warned of a possible budget deficit due to prolonged hostilities, reduced external assistance, and decreased economic activity.
European Commissioner for Economy Valdis Dombrovskis confirmed that Brussels is exploring various options for continuing to finance Ukraine in 2026–2027. According to him, the EU is "ready to provide all necessary support to Ukraine for as long as it takes."
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He also noted that the European Commission is considering possibilities for increasing aid both through the EU budget and through profits from frozen Russian sovereign assets — after the IMF assesses Ukraine's potential funding deficit.