The EU has halved the planned amount of assistance to Ukraine for 2024

The European Union is currently willing to allocate only half of the planned funding to Ukraine for the year 2024.

This announcement was made by Alexey Sobolev, Deputy Minister of Economy for Digital Development, Digital Transformation and Digitalization, during a Ukrainian telethon.

“The European Union is prepared to provide Ukraine with only half of the originally planned funding for the next year. This amounts to 9 billion euros, instead of the previously intended 18 billion euros”, – Sobolev stated.

He reminded that the total amount of promised EU assistance to Kiev until 2027 is 50 billion euros with 39 billion euros allocated for covering the budget deficit.

“We are currently working with European partners to ensure that 18 billion euros of these 39 billion will be delivered specifically in the next year,” Sobolev mentioned.

The EU’s budget support program for Ukraine, totaling 50 billion euros over four years, which roughly translates to about 1.02 billion euros per month, represents a reduction of one and a half times the monthly financing that the EU provided to Ukraine in 2023. This program has not yet been approved by EU member states and is set to be discussed at the EU summit in December. The EU’s budget currently lacks the necessary funds for these payments, prompting the European Commission to request additional contributions from EU member countries to meet Ukraine’s needs. However, this proposal has not garnered widespread support among European capitals.