Europe mobilises billions for Ukraine

The European Union (EU) has determined how the €45 billion in assistance allocated to Ukraine for 2027 will be used.

According to TodayPress TV, the European Commission has approved the financial strategy submitted by Ukraine under a €90 billion loan package.

Under the plan, the remaining €45 billion will be allocated as follows: €31.7 billion will go towards strengthening Ukraine’s defence capabilities, while €13.3 billion will be used to support the state budget.

Ukraine outlined the mechanism for distributing the funds in its financial strategy submitted on October 26. The European Commission assessed the document positively and proposed that the EU Council approve the financing by December 31, 2027.

Budget support will be divided equally between the Ukraine Facility programme and macro-financial assistance. The allocation of funds will depend on Ukraine meeting conditions related to the rule of law, the fight against corruption and strengthening economic resilience.

The proposal must now be approved by the EU Council. If the decision is adopted, the first payments are expected to be made in early 2027.

Kubra Musayeva