EU prepares unprecedented aid package for Ukraine, likely to be over 700 billion euros – media

On February 16, on the sidelines of the Munich conference, German Foreign Minister Annalena Burbock told Bloomberg  about the upcoming launch of EU aid to Ukraine, similar to the fund established during the coronavirus crisis. Over the past six years, the EU has allocated €724 billion in loans and direct financial assistance to Ukraine to help it recover from the coronavirus. The Berliner Zeitung recalled the relevant announcement by the head of the German diplomatic mission, UNN reports.

Details

The EU is apparently putting together a multibillion-dollar package to buy military equipment as part of the development of a security guarantee for Ukraine. Bloomberg learned about the plans on the sidelines of the Munich conference:

It is known that much of the discussion in Munich focused on the events in Ukraine and what kind of security guarantees the EU could offer.

In an interview on the sidelines of the Munich meeting, German Foreign Minister Annalena Burbock said the following:

Just like the euro or the coronavirus crisis, there is now a financial package for security in Europe. It will happen in the near future – We will launch a big package that has never been seen before in this dimension

The Berliner Zeitung writes that the German foreign minister has gone ahead and given an idea of the order of magnitude. That is, she hinted that it could be as much as 700 billion euros. Why? Because as far as we know,  in previous years, the EU aid fund of 724 billion euros was formed and allocated to fight COVID-19. 

Reference

Euronews reminds that three years after the creation of the large-scale Pandemic Recovery and Resilience Facility (ARF), EU member states have used less than a third of the 723.8 billion euros in grants and loans.

Burbank expects long-term security guarantees for Ukraine

In a statement on the situation, Burbock says peace will only come through strength: “This requires strong and long-term security guarantees for Ukraine, a strong NATO and progress in the negotiations on Ukraine’s accession to the European Union. As Europeans, as Germans, we stand firmly by Ukraine’s side with military, humanitarian and financial support. Since the Russian invasion, we Europeans have supported Ukraine with a total of more than 134 billion euros, with Germany alone contributing almost 44 billion euros. Europe’s strength “is based, despite all our differences, on our unity,” the article says.

Recall

UNN reported that EU ambassadors discussed providing Ukraine with additional military aid worth 5 billion euros. The aid will include artillery ammunition, air defense systems, missiles, and support for Ukrainian army brigades.

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