EU's financial development program may include €88B in aid to Ukraine

The future EU Multiannual Financial Framework for 2028-2034 may include €88 billion in aid to Ukraine, Report informs referring to Politico, which cited a draft document.

If the figures seen by POLITICO are confirmed, the Commission is also set to allocate €522 billion to “competitiveness, prosperity and security,” €190 billion to “Global Europe,” which includes development aid and assistance to neighboring countries, and €107 billion to a pot called “administration” which covers the salaries of EU employees.

A dedicated off-budget fund for Ukraine will be worth €88 billion over the next seven years.

Separately, the Commission will propose three new taxes targeting electric waste, tobacco products and companies in the EU with a turnover exceeding €50 million to repay its post-Covid common debt. Repayments are expected to cost from €25 to €30 billion each year starting from 2028.