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The European Commission is ready to set aside €50 billion ($54.5 billion) in the EU budget for Ukraine over the next four years, EU President Ursula von der Leyen announced on June 20.
This includes both borrowing and grants,” von der Leyen said.
“This reserve will provide prospects for our partners in Ukraine, predictability, and will also stimulate other donors.”
This financial reserve will allow the EU to "calibrate our financial support according to the situation on the ground because we know that war requires us to be extremely flexible," she added.
Von der Leyen also stated that total financial assistance to Ukraine has already amounted to €30 billion ($32.7 billion), which was not previously provided for in the bloc’s budget.
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