Andrew Bossi
The report stated that the European Union is contemplating the establishment of a €100 billion ($117 billion) fund to aid Ukraine as its conflict with Russia appears to be ongoing.
The agency, referencing sources, reports that the funds may be included in the EU's plan for its upcoming seven-year budget, expected later this month.
Bloomberg's sources indicated that if member states reach an agreement during budget discussions, financing to ensure stable financial aid to Kyiv would commence in 2028.
The proposal is under review along with various alternatives and will be debated prior to the release of details regarding the upcoming multi-year financial agreement, set for July 16; however, certain aspects might be revealed later.
Since the beginning of the Russian-Ukrainian conflict, the EU has provided nearly €160 billion to support Ukraine. This total comprises a 50 billion euro fund that provides grants and loans through 2027. Alongside the G7 nations, Brussels established a $50 billion credit facility for Kyiv, which “utilizes funds obtained from the frozen assets of the Russian central bank.”
source: bloomberg.com
The agency, referencing sources, reports that the funds may be included in the EU's plan for its upcoming seven-year budget, expected later this month.
Bloomberg's sources indicated that if member states reach an agreement during budget discussions, financing to ensure stable financial aid to Kyiv would commence in 2028.
The proposal is under review along with various alternatives and will be debated prior to the release of details regarding the upcoming multi-year financial agreement, set for July 16; however, certain aspects might be revealed later.
Since the beginning of the Russian-Ukrainian conflict, the EU has provided nearly €160 billion to support Ukraine. This total comprises a 50 billion euro fund that provides grants and loans through 2027. Alongside the G7 nations, Brussels established a $50 billion credit facility for Kyiv, which “utilizes funds obtained from the frozen assets of the Russian central bank.”
source: bloomberg.com