EU Commission proposes $50B in additional Ukraine support for 2027

The European Commission on Friday proposed allocating an additional €45 billion ($50 billion) in financial assistance to Ukraine for 2027 under the EU's €90 billion Ukraine Support Loan package.

The proposal aims to ensure continued budgetary support and strengthen Ukraine's defense capabilities, according to a statement.

The proposed €45 billion will be allocated by Dec. 31, 2027, with up to €13.3 billion designated for budgetary support and €31.7 billion for Ukraine's defense industrial capacity.

European Commission President Ursula von der Leyen said the proposal would provide Ukraine with much-needed predictability and help maintain essential public services.

"Together with our allies, we must also do everything in our power to mount pressure on Russia to stop its barbaric war of aggression," she said.

The budgetary assistance will be subject to conditions concerning the rule of law, anti-corruption efforts, economic resilience, and sustainability, as well as safeguards to protect the EU's financial interests.

The proposal will now be submitted to the European Council for approval, with member states to decide on the allocation of assistance across the different funding mechanisms.

Following the adoption, the commission aims to ensure that disbursements to Ukraine can begin in early 2027.

Since the start of the war in Ukraine, the EU and its member states have provided €231.6 billion in overall support to Kyiv, including €3.8 billion generated from immobilized Russian assets.