EU to greenlight €5 billion aid package for Ukraine

In a significant move to bolster support for Ukraine, EU foreign ministers are poised to give their final approval on March 18 to an additional aid package totalling €5 billion.

The aid will be provided through the European Peace Facility, marking a substantial commitment to Ukraine's defence and security, as reported by TASS.

Josep Borrell, the EU's head of eurodiplomacy, confirmed the forthcoming approval, emphasizing the significance of the decision in light of ongoing discussions within the EU. Borrell highlighted the creation of a military aid fund specifically designated for Ukraine as a key component of the aid package.

"I expect that we will finally approve the decision that we have been discussing for many weeks now - the creation of a military aid fund for Ukraine by increasing the European Peace Fund by €5 billion," stated Borrell.

Borrell also revealed that US Secretary of State Anthony Blinken and Ukrainian Foreign Minister Dmytro Kuleba will participate in the meeting of foreign ministers via video link, underscoring the importance of international cooperation in addressing regional challenges.

The decision to increase military support for Ukraine was reached following discussions among representatives of EU member states on March 13. The agreement reflects a unified stance within the EU to provide tangible assistance to Ukraine in the face of ongoing security concerns.

As tensions persist in the region, the EU's approval of the €5 billion aid package signals a firm commitment to standing with Ukraine and promoting stability and security in the broader European neighbourhood.