EU reveals plan for Ukraine

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EU backs extra funding for Ukraine

European Union finance ministers have unanimously backed extra funds for Ukraine through a top-up of its long-term budget, although differences remain over other spending that threaten to delay the aid package for Kyiv. 

Spanish finance minister Nadia Calvino told a news conference that EU finance ministers meeting today had backed continued financial support for Ukraine. 

“The Spanish presidency is committed to proceed swiftly to have a stable framework in place by January 2024,” she said. 

Ms Calvino added that more technical work would be needed to support Ukraine, whose economy has been damaged by Russia’s invasion. 

The European Commission has proposed increasing the EU’s budget until 2027 by €66bn (£56.6bn). The part for Ukraine would be €17 billion, with a further €33 billion of loans. 

The other money is earmarked to cover higher interest payments, for migration policy and to spur more investment in critical technology. 

German finance minister Christian Lindner said he backed extra spending on Ukraine, but not increases elsewhere. 

“We see fiscal constraints in all member states. This is why the Commission should not expect member states to contribute more. Ukraine is a separate issue,” he told reporters before the meeting of EU finance ministers. 

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