European Commission's proposal for cooperation with Ukraine
European Council President António Costa announced the European Commission's proposal, which provides for the allocation of up to €100 billion for a new cooperation program with Ukraine in the next EU budget. The new political season in the European Union will begin in September, during which the EU budget is expected to be approved, along with progress in the enlargement for Ukraine, Moldova, and Western Balkan countries.
According to the EU budget draft for 2028-2034, planned expenditures will amount to about €2 trillion. Costa noted:
“This issue is currently under discussion among member states, but the European Commission's proposal includes a new cooperation program with Ukraine worth up to €100 billion.”.
Financial support for Ukraine
In addition, Ukraine may receive a new tranche from the EU defense credit line of €90 billion for 2026-2027 at the beginning of September. European Commission spokesman Balazs Ujvari confirmed that new approvals and disbursements are expected in the coming weeks. He mentioned that
“of the €28 billion, €22 billion has already been distributed. This means that we approved procurement schedules for a total of €22 billion, and of these €22 billion we have already disbursed €8.5 billion.”.
The coming weeks will be busy on the defense front, as 'we know what is at stake. We know that there is an extraordinary urgency, and accordingly, we are accelerating our operations,' Ujvari added. Thus, the situation regarding financial support for Ukraine remains dynamic and relevant in the context of European policy and defense cooperation.
This initiative of the European Commission reflects the growing support for Ukraine from the EU in the context of the current geopolitical situation. The allocation of significant financial resources for cooperation with Ukraine underscores the importance of integrating this country into European structures, as well as the necessity of strengthening Ukraine's defense capabilities. These steps are expected to contribute to stability in the region and support Ukraine's economic development.