EU Defence Council: Borrell proposes to create Ukrainian Support Fund with annual budget of €5 billion

The EU High Representative Josep Borrell has proposed the creation of a Ukraine Assistance Fund for the period 2024-2027 to ensure the sustainability of the EU military assistance to Ukraine.

He announced this at a press conference at the end of the Informal Council on International Affairs (Defence), which was held on 29-30 August in Toledo, Spain.

The Fund with around €5 billion every year will be embedded into the European Peace Facility and should become “a core element of the EU long-term contribution to the security of Ukraine”, according to Borrell. 

“I hope that an agreement [on Borrell’s proposal] can be reached as soon as possible. I hope before the end of this year,” said the EU High Representative.

Borrell also proposed to raise the objective of the training mission for the Ukrainian Armed Forces from 30,000 to 40,000 Ukrainian soldiers in the coming months.

The training is organised as a part of the EU Military Assistance Mission (EUMAM). This mission has already trained 25,000 Ukrainian soldiers.

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Press release