EU agrees to allocate $50 billion for Ukraine

The European Commission and Ukraine have agreed to speed up the procedures for allocating 45 billion euros, around 50 billion dollars, under the Ukraine Support Loan for 2027.

According to a joint statement published on Thursday, the funds will be disbursed subject to the fulfilment of the specified conditions. Meanwhile, the parties have agreed to start work on identifying Ukraine’s additional needs in the fields of budget and defence.

The statement also stresses that other partners must fulfil their financial commitments and step up their efforts, in response to the challenges Ukraine faces.

The European Commission and Ukraine have also agreed to hold monthly meetings, with the aim of coordinating their joint efforts.