Head of EU Budget Committee: €50 billion from EU insufficient for Ukraine; it needs more

Johan van Overtveldt, MEP and chairman of the European Parliament's Budget Committee, believes that the approved €50 billion in EU aid to Ukraine is not enough, and it will need another €22 billion.

Source:  The Guardian with reference to the words of the MEP

Details: According to conservative estimates, Ukraine's non-military needs amount to €3 billion a month. This adds up to €36 billion over the course of a year.

The €50 billion envisaged in the Ukraine Facility covers four years, from 2024 to 2027. On average, Ukraine will have access to €12.5 billion per year.

Quote: "The deal between the EU and the United States was that each would take care of half of what Ukraine needs, meaning 18bn Euros from the EU and US each. The Ukraine Facility will thus annually be at least 5.5bn Euros short of what the EU’s commitment was," van Overtveldt said. 

Thus, the deficit will be €22 billion over the entire period of 2024-2027, he explained.

The Ukraine Facility is a financial assistance package approved by the European Union for Ukraine in 2024. The total amount of assistance is €50 billion and it will be disbursed over four years, from 2024 to 2027.

Reminder:

On 1 February, EU leaders overcame Hungary's long-standing opposition and reached an agreement to provide €50 billion in macro-financial assistance to Ukraine.

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