EU Commission unveils plans to support Ukraine with €90 billion

European Commission President Ursula von der Leyen unveiled on Wednesday details on how the European Union is to support Ukraine with €90 billion ($104.8 billion) over the next two years, including €60 billion to bolster the military.

“We all want peace for Ukraine and for that Ukraine must be in a position of strength,” von der Leyen said in Brussels, weeks before the fourth anniversary of Russia’s full-scale invasion of Ukraine.

The loan package is to provide “stable and predictable funding” and “reaffirms Europe’s unwavering commitment to the security, the defence and the future prosperity of Ukraine,” von der Leyen said.

Two-thirds of the funds are earmarked for military support.

Ukraine is required to spend the money on Ukrainian and European-built equipment but can acquire weaponry from abroad if the needed equipment is not available in Europe, von der Leyen said.

“With the military assistance, Ukraine can stand strong against Russia and, at the same time, it can integrate more closely into Europe’s defence industrial base,” she said.

The remaining €30 billion is meant to support Kiev’s budgetary needs but are tied to further reforms in the areas of democracy, rule of law and anti-corruption measures.

The conditions are “to make sure that Ukraine moves forward on its path of accession to the European Union” and are “non-negotiable for any financial support,” the commission president said.

Von der Leyen said she hopes the first disbursement to Kiev can be done as early as April, once the European Parliament and capitals have scrutinized the proposal.