The European Union (EU) is set to introduce a dedicated fund aimed at providing substantial support to Ukraine’s military for an extended duration, spanning up to four years and with an estimated cost of €20 billion. This proposal, as revealed by five diplomats knowledgeable about the plan, will not involve direct financial assistance from the EU to Ukraine for procuring weapons. Instead, it seeks to assist EU member countries in covering their expenses related to purchasing and donating essential military supplies like ammunition, missiles, and tanks. Additionally, the fund will extend financial support to enhance the training of Ukrainian soldiers, further reinforcing the country’s defense capabilities.
The financial commitment for this ambitious program is substantial, marking a noteworthy increase from the approximately €4 billion allocated by the EU for similar initiatives during the past year. The introduction of this fund signifies a significant commitment on the part of the EU. This move also underscores a notable shift in the EU’s stance, as it transitions from being a self-proclaimed peace project to a supporter of weapon shipments to a conflict zone, which was considered unthinkable prior to Russia’s conflict with Ukraine.
The proposal for this comprehensive military fund was formally presented to EU member countries for their evaluation. EU foreign ministers are scheduled to deliberate on this initiative during a meeting in Brussels on Thursday. The primary objective, as articulated by two diplomats, is to adopt the proposal and initiate its implementation by this autumn.
The proposal for this new military funding initiative was circulated to EU member countries for their review, with EU foreign ministers scheduled to discuss it during a meeting in Brussels on Thursday. The objective, according to two diplomats, is to adopt the proposal by the fall. This plan, if implemented, has the potential to significantly bolster Ukraine’s military capabilities and enhance its defense posture in the face of ongoing regional challenges.
