The approved EU aid of 50 billion euros for Ukraine is insufficient. It will not cover the country's needs until 2027.

This was stated by the chair of the Budget Committee of the European Parliament, Johan Van Overtveldt, as reported by The Guardian.

According to him, Ukraine needs to spend 3 billion euros monthly on non-military needs. Thus, the country requires 36 billion euros annually. However, the European Union has allocated only 50 billion euros for Ukraine for the period from 2024 to 2027.

On average, Ukraine will have access to 12.5 billion euros per year. Under the agreement between the EU and the US, each will take half of Ukraine’s needs, meaning 18 billion euros each for the EU and the US. Therefore, the Ukraine Facility will annually lack at least 5.5 billion euros from EU commitments, explained the chair of the Budget Committee of the European Parliament.

He further clarified that the shortfall over the entire period until 2027 will amount to 22 billion euros.

It is worth noting that the EU Council and the European Parliament reached a preliminary agreement on creating a new instrument to support Ukraine’s recovery, reconstruction, and modernization, called the Ukraine Facility. The document is expected to be approved by the European Parliament at the plenary session scheduled for February 26-29, 2024.

Earlier, on February 1, at a special summit of EU leaders, unanimous agreement was reached to allocate 50 billion euros in aid to Ukraine for the next four years.

Photo: open sources