EU to create dedicated section of $22.4 billion over four years for Ukraine defense

The European Union will provide up to $5.6 billion (five billion euros) a year for the next four years for Ukraine’s defense needs through the “dedicated section” under the European Peace facility, the EU's foreign policy chief, Josep Borrell, said on Thursday.

Borrell said at a press conference after a meeting with EU foreign ministers: “The council focused on the security commitments that the EU can offer to Ukraine to transform existing support into a long-term commitment to Ukraine’s security and resilience… Our initiative to secure more sustainable financing for defense support to Ukraine. We proposed the creation of a dedicated section under the European Peace facility to provide up to five billion euros a year for the next four years for the defense needs of Ukraine,” Borrell said.

He added: “It’s still the same tool, the European Peace facility, which has been working very well and we will continue using it but with a dedicated chapter inside it, with a specific funding which can be estimated on the figures I mentioned, five billion [euros] a year for the next five years. This is the evaluation of the needs and the cost of our long-term security commitments to Ukraine.”

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Prior to the meeting Borrell had said: “I presented a plan to ensure the financial support for Ukraine in the next years, which will amount to quite an important amount of money… But it is clear that we will have to engage more with Ukraine having a stable instrument, because Ukraine will need support not month by month, but on the long term, [with] a structured and continued support.”

The EU European Peace Facility (EPF) is an initiative aimed at enhancing the EU's ability to contribute to peace and security globally. The EPF was established to provide financial support for common security and defense projects, including the provision of military and defense assistance to partner countries. The facility enables the EU to provide equipment, training, and capacity-building support to address security challenges and promote stability in regions of interest. It allows for the financing of a range of activities, such as military operations, peacekeeping missions, and support for security sector reform. The EPF emphasizes the EU's commitment to conflict prevention, crisis management, and post-conflict peacebuilding efforts. By pooling resources and coordinating actions, the EU aims to strengthen its role as a security provider and contribute to international peace and stability. The EPF reflects the EU's collective determination to play an active role in addressing security threats and fostering peace beyond its borders.

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