New EU funding for Ukraine is not enough - Head of the European Parliament's Budget Committee
Kyiv • UNN
The head of the European Parliament's budget committee says that the €50 billion aid package for Ukraine for 2024-2027 falls short of the needs by €22 billion
The head of the European Parliament's Budget Committee Johan Van Overtveldt claims that the recently agreed 50 billion euros in EU aid for Ukraine is not enough, UNN reports citing The Guardian.
Details
"The first thing to note is that the most conservative estimate of Ukraine's non-military needs is 3 billion euros per month. This means that 36 billion euros would be needed on an annualized basis. The €50 billion loan provided for in the loan agreement for Ukraine is for 4 years, from 2024 to 2027. Thus, on average, Ukraine will receive 12.5 billion euros per year," Overtveldt said.
He noted that "the agreement between the EU and the United States was that each would take care of half of Ukraine's needs, which means 18 billion euros for the EU and the US each."
Thus, the funding of the Ukraine Facility will be at least EUR 5.5 billion less than the amount of EU commitments annually. For the entire period of 2024-2027, the deficit will amount to 22 billion euros (4 x 5.5)
Addendum
On February 1, EU leaders agreed to establish a four-year, €50 billion financial assistance package within the EU's general budget to support Ukraine.
