European Commissioner for Economic Affairs Valdis Dombrovskis announced on Monday that the European Union will provide an additional 45 billion euros to Ukraine, alongside the amount already allocated, to help bridge a funding gap estimated at around 70 billion euros facing Kyiv.
Italian news agency ANSA quoted Dombrovskis as saying in statements made in the Belgian capital Brussels on the sidelines of the Eurogroup meeting that the EU is working to close Ukraine's funding gap, which turned out to be larger than expected, clarifying that this requires an additional 70 billion euros, with the EU aiming to cover about two-thirds of it, equivalent to 45 billion euros.
Dombrovskis added that work is still ongoing to finalize the various options, in preparation for presenting them to member states, confirming that the EU will secure an additional 45 billion euros alongside the amount already allocated to Ukraine.
Dombrovskis viewed that the European economy still shows resilience in the face of economic shocks it experienced during recent months, despite the continuation of negative risks, noting that on November 17, the European Commission will present its economic forecasts for the autumn quarter.
He called for the necessity of member states adopting prudent fiscal policies, especially in an environment characterized by rising interest rates, emphasizing that the European economy shows the ability to face various shocks, despite the high level of uncertainty and the continuation of negative risks.
The European Commission had announced on the 5th of this month that the European Union would disburse an aid package worth 4.36 billion euros to Ukraine, and on the 30th of last month, the European Commission adopted a proposal stipulating the allocation of 45 billion euros to Ukraine during 2027, to complete the European support loan of 90 billion euros, allocated to meet its financial needs and enhance its defensive and industrial capabilities.
Source: Syrian Arab News Agency (SANA)
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