The European Union is considering the possibility of creating a fund of €100 billion to support Ukraine within the seven-year budget for 2028–2034.

Source : Bloomberg, as reported by European Pravda 

Details : Funding of €100 billion for Ukraine may become part of the European Commission’s proposal for a seven-year budget, which is due to be presented by the end of July.

If EU member states approve this proposal within the framework of budget negotiations, it will ensure stable financial assistance to Ukraine from 2028, Bloomberg sources noted.

It is assumed that EU financial assistance will be provided, as now, in the form of grants and low-cost loans, conditional on the implementation of European integration reforms.

At the same time, as Bloomberg notes, this is not the only option for long-term support for Ukraine being discussed in the European Union and it is uncertain whether it will be approved.

Hungary is likely to block this initiative. On Wednesday, Balázs Orbán, political adviser to the Hungarian prime minister, criticised the idea of providing Ukraine with €100 billion in aid.

Quote from Balázs Orbán : "While Europe is unable to get out of its own economic, social and security crisis, Brussels continues to finance war – weapons instead of peace, even more debt instead of a competitive Europe."

Background :

• Since the beginning of Russia’s full-scale invasion in 2022, the European Union has provided and committed to providing Ukraine with nearly €160 billion in aid, including €50 billion within the Ukraine Facility programme by 2027.
• Together with the Group of Seven countries, the EU also created an instrument for Kyiv in the form of a US$50 billion loan, which will be financed from funds received from the frozen assets of the Russian central bank.

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