EU lays out 45 billion euro spending plan for Ukraine in 2027

The European Commission announced plans to allocate 45 billion euros to Ukraine in 2024, primarily for defense. Of this, 31.7 billion euros will enhance Ukraine's defense industrial capacity, while 13.3 billion euros will support two financial mechanisms. Despite this aid, Ukraine faces a 70 billion euro budget gap due to ongoing economic pressures from the war. The proposal emphasizes the need for Ukraine to implement reforms related to rule of law and anti-corruption. This funding is part of a larger 90 billion euro loan package approved earlier, with additional support from other countries like Norway and the U.K.