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EU to create €20bn fund to support Ukraine’s army for years

Photo: European Union
EU to create €20bn fund to support Ukraine’s army for years

The European Union intends to create a dedicated fund to support Ukraine’s army for EUR 20 billion over four years, Politico reported, citing five diplomats familiar with the plan. Ironically, it is being done via an initiative called the “European Peace Facility.”

The plan involves Brussels covering the costs of individual EU members states who purchased and donated such items as ammunition, missiles, and tanks to Ukraine. It would also include funding for the training of Ukrainian military personnel.

Ironically, this is being done via a pre-existing fund called the “European Peace Facility” and marks a shift in the stance of the EU, a self-described peace project, towards subsidizing weapons.

“You have to make Ukraine able to defend. So the European Peace Facility for Ukraine, maybe it has to become a new Ukrainian defense fund,” Josep Borrelll, the EU top diplomat, said.

EU countries received the proposal for military funding on Monday, 17 July. EU foreign ministers will consider it on Thursday, 20 July, during a meeting in Brussels.

This fund proposal is part of the EU’s broader efforts to help Ukraine, which include a plan by the EU’s diplomatic wing, the European External Action Service, for security commitments the EU can make to Ukraine and an EU proposal to earmark €50 billion in non-military assistance to Ukraine between 2024 and 2027.

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