EU authorizes Ukraine to allocate 60 billion euros to military spending

(AFP) European Commission President Ursula von der Leyen announced Wednesday that Ukraine will be able to allocate 60 billion of the 90 billion euros (roughly $70 billion of the $105 billion total) granted by the European Union to strengthen its military capabilities during 2026 and 2027.

She also noted that, within this package approved in December, European countries will be prioritized in providing the arms Ukraine needs during that period. "With the military assistance, Ukraine can stand strong against Russia, and at the same time it can integrate more closely into Europe’s defense industrial base," the official assured.

If European industries are not in a position to respond to a specific Ukrainian demand, it will be possible, "occasionally," to procure such weaponry outside Europe, von der Leyen continued.

She explained that these sums must have "a return on investment by creating jobs and developing the research and development we need. For us, this is a lot of money. It's billions and billions being invested."

The remaining 30 billion of the 90-billion-euro European loan will be used by Kiev for its budgetary needs, under conditions of reforms linked to strengthening the rule of law or the fight against corruption, the European Commission specified.

In December, EU leaders agreed to grant Ukraine a 90-billion-euro loan aimed at covering both its budget and the needs of its armed forces during this year and next.

According to Ursula von der Leyen, the first payments are scheduled to begin in April.