The European Commission approved on Friday a proposal to allocate 45 billion euros to Ukraine for 2027, to complete the 90 billion euro European support loan, designated to meet its financial needs and enhance its defense and industrial capabilities.
The European Commission website quoted its President Ursula von der Leyen as saying in a statement: "The proposal provides Ukraine with the stability it needs and helps continue essential public services," adding that strengthening support for Kyiv is one of the European Union's priorities, and that the Union and its allies must continue to pressure Russia to stop the war.
Von der Leyen noted that the proposal came after the Commission's positive assessment of the Ukrainian financing strategy submitted by Kyiv on October 26, and includes allocating up to 13.3 billion euros to support the budget, distributed equally between the Ukraine Facility and macro-financial assistance, and 31.7 billion euros to enhance Ukraine's defense industrial capabilities.
For his part, EU Commissioner for Economy and Productivity Valdis Dombrovskis said: "Ukraine's and Europe's future are closely linked, especially after Ukraine obtained candidate status for EU membership," considering that the allocation of 45 billion euros for 2027 represents not only an act of solidarity, but also an investment in building a stronger and safer Europe.
Dombrovskis added that the loan will contribute to supporting Ukrainian civilians, reforming the energy sector in preparation for EU membership, and enhancing the capabilities of the Ukrainian Armed Forces, calling on international partners to fulfill their commitments to Kyiv.
For her part, EU Enlargement Commissioner Marta Kos said: "The European Union is continuing to provide sustainable support to Ukraine amid ongoing Russian attacks," explaining that the funding also aims to lay the foundations for long-term prosperity, support reforms aimed at strengthening the Ukrainian economy, and advance the country's accession process to the EU.
In a related development, Canada announced today its intention to participate in the loan to support Ukraine, which the European Union intends to provide to Kyiv, in a joint statement issued by both sides at the end of a two-day summit in Montreal.
According to the European Commission, the European Union and its member states have provided a total of 231.6 billion euros in support to Ukraine since the beginning of the Russian-Ukrainian war, including 3.8 billion euros from the proceeds of frozen Russian assets.
Source: Syrian Arab News Agency (SANA)
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