Consideration of the issue of finding new sources of funding will be initiated in the near future.
Due to the war against Russia, Ukraine is suffering from significant economic losses and needs constant financial infusions from outside. One of the sources of obtaining funds for defense and the purchase of weapons is the European Peace Fund. But the intergovernmental organization will no longer be able to help Ukraine in the near future, as its expenses have already been exhausted by 85%. The EU is looking for alternative sources of funds to support peace and will partially devote the meeting of the EU Council on Foreign Affairs, which will be held on November 15, to this issue, reports “Interfax-Ukraine” with reference to an anonymous EU official.
According to the source, the High Representative of the EU for foreign policy Joseph Borrell is seriously concerned about the financial situation of the Fund and plans to discuss the mechanisms of its replenishment to ensure long-term stability. According to the official, Ukraine, Africa and neighboring countries are still the main areas of allocation of funds for the EU.
The representative of the EU said that probably the issue of the European Peace Fund will not be discussed in detail at the meeting on November 15, as it is complex and needs to be finalized. Its final consideration may take place in December.
“This is a complex issue that requires in-depth consultations, which will begin after the EU Foreign Affairs Council between the ambassadors of the member states in the Committee on Politics and Security, then will take place in the Committee of Permanent Representatives. We intend to return to this issue in December at the next council at the level of defense ministers, and it can also potentially be considered at the December European Council before Christmas,” said the interlocutor of the journalists.
Let us remind you that Ukraine received a total of 3.1 billion euros from the European Peace Fund.
Read also: Germany allocates an additional 1 billion euros to support Ukraine
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