The European Union is exploring the establishment of a €100 billion ($117 billion) fund to provide continued financial assistance to Ukraine as the war in its fourth year shows no end in sight, according to Bloomberg.
The proposed funding mechanism may be incorporated into the EU's next seven-year budget framework, which is scheduled for presentation on 16 July, the sources told Bloomberg.
If approved by member states during budgetary negotiations, disbursements would begin in 2028 to ensure uninterrupted financial support for Ukraine.
How much has Europe already committed? Nearly €160 billion ($187 billion) since Russia's invasion began three and a half years ago. That includes a €50 billion ($58 billion) fund providing grants and loans through 2027, plus another $50 billion loan backed by frozen Russian assets.
The new proposal would extend that timeline indefinitely. EU Commissioner Valdis Dombrovskis put it simply: the bloc stands "ready to provide all necessary support for Ukraine for as long as it's needed."
The European Commission would distribute grants and loans, most tied to governance reforms required for EU membership. Ukraine has been implementing these changes even while fighting a war.
The proposal remains under consideration alongside other alternatives and will undergo further discussion before the Multiannual Financial Framework details are finalized.
