Ukraine may get €100 billion from EU — timeline revealed

The European Commission has proposed allocating €100 billion in aid to Ukraine from the European Union's long-term budget. The President of the European Commission, Ursula von der Leyen, mentioned this amount when presenting the budget in Brussels.

It was reported by DW.

When and for what can this money be allocated?

The budget has been presented but not yet voted on. However, if it is approved, Ukraine will receive €100 billion for the period 2028-2034. The total European budget will amount to €2 trillion. 

The new budget is divided into three main functions: support for member states, support for beneficiaries and businesses through the Competitiveness Fund, and support for partners.

The EU has confirmed that it "takes the European social model seriously" by reserving 14% of the budget for social purposes. €451 billion will be allocated to the competitiveness fund to "pool investment efforts in clean technologies, digital technologies, biotechnologies, defence, space and food security." 

As a reminder, Volodymyr Zelensky met with the Prime Minister of Latvia, Evika Siliņa. During the meeting, the parties discussed defence aid for the Armed Forces of Ukraine.