EU plans $30b Ukraine defence fund

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EU plans $30b Ukraine defence fund
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It would be spent over four years to help Ukraine resist Russia’s invasion. Read more at straitstimes.com.

BRUSSELS - The European Union is drawing up plans for a €20 billion fund to be spent over four years toAfter a Brussels ministerial meeting, EU foreign policy chief Josep Borrell said the union would “transform existing support into a long term commitment to Ukraine security and resilience.

“It is still the same tool, the European Peace Facility, which has been working very well, and we will continue using it – but with a dedicated chapter inside it.” EU foreign ministers were shown the plan at Thursday’s foreign affairs council but a more detailed debate will take place on Aug 31 at their meeting in the Spanish city of Toledo.

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