This development comes as certain EU countries have been obstructing a proposed funding of 50 billion euros. The Wall Street Journal reports on this new initiative, which is gaining momentum amidst delays in the US Congress regarding funding approval.
Key Elements of the EU Plan:
- Financial Structure: The plan involves the EU reimbursing member states over 20 billion euros over four years in exchange for their support to Ukraine.
- Specialized Military Fund: A proposal to establish a dedicated military fund for Ukraine is on the table, incorporating around 6.5 billion euros from the European Peace Fund and additional funding of up to 5 billion euros annually between 2024 and 2027.
- Use of Funds: The funds are earmarked for joint purchases of ammunition, drones, and air defense missiles for Ukraine by several member states.
- Training Program Support: A portion of the funds will also cover the escalating costs of the EU's military training program for Ukraine, with a transition period expected before the new plan's implementation.
- Compensation Estimate: The EU document suggests that member states could receive up to 7.5 billion euros in military aid compensation this year.
- German Chancellor's Call to Action: German Chancellor Olaf Scholz, who has doubled Germany's bilateral military aid to Ukraine, urged other EU countries to enhance their military support for Kyiv and requested an audit of current EU military aid.
- Future Discussions: EU officials anticipate formal discussions among member states on the plan in the coming days. The proposal is likely to be a topic at the EU leaders' summit on February 1, although a final decision may take several weeks.
This new EU plan for military aid to Ukraine signifies a strategic response to the funding challenges and the pressing need to support Ukraine amid ongoing conflicts. The plan's focus on joint procurement and training underscores the EU's commitment to reinforcing Ukraine's defense capabilities.