EU Defense Minister calls for using investment loans to help Ukraine - Bloomberg
Kyiv • UNN
Defense Commissioner Andrius Kubilius proposes that EU countries use funds from the €150 billion investment plan to support Ukraine. Some countries have already expressed their readiness to apply loans from the 'Security Actions for Europe' program for Kyiv.
According to Defense Commissioner Andrius Kubilius, European Union countries should use funds from their €150 billion ($174 billion) investment plan for the bloc's defense industry to help Ukraine, UNN reports with reference to Bloomberg.
Details
Kubilius stated that some countries have informed the European Commission of their readiness to also use loans from the so-called "Security Actions for Europe" program for Kyiv. The main goal of the plan is to increase the bloc's readiness after Russia's full-scale invasion of Ukraine in February 2022.
Ukraine needs our help. And it is truly our duty. It is very important for us that member states use these SAFE loans to help Ukraine.
Europe is under increasing pressure to find sufficient funding to keep Ukraine in the fight after the administration of US President Donald Trump suspended aid and said it would only provide weapons if other allies paid for them.
EU leaders at a meeting in Brussels on Thursday tried to overcome Belgium's objections to a plan to use frozen Russian central bank assets to guarantee about 140 billion euros in new loans to Ukraine. The decision to use these assets could be a signal to Russian President Vladimir Putin that "he will not actually achieve anything in Ukraine," Kubilius said.
Nineteen EU countries have expressed interest in accessing loans under the SAFE instrument. The program is designed to help build the capabilities Europe needs most, including drones, cyber defense, missiles, or a European air shield, as the bloc rushes to develop a military deterrent strong enough to counter Russia.
Kubilius said he hoped member states would stick to their commitments to Ukraine and that "there will be no temptation to think that, well, if the reparations loan comes, then we will not use SAFE loans for Ukraine."
Addition
European Commissioner for Defense Andrius Kubilius stated that the European Union needs to develop additional capabilities that it currently lacks to combat drones. He also added that successful implementation of this task requires relying on Ukraine's experience.