Borrell to present plan for arms procurement for Ukraine by April
Head of EU Diplomacy Josep Borrell (Vitalii Nosach, RBC-Ukraine)
The head of European Union diplomacy, Josep Borrell, is set to unveil a plan for arms procurement for Ukraine by April of this year, according to Politico.
The document, containing specific actions of last week, dated March 25, outlines steps to increase financial and military support to Ukraine.
According to the document, the EU's top diplomat, Josep Borrell, "is expected to present a proposal for joint procurement initiatives (lethal and non-lethal) by April 2024."
Borrell will also "intensify efforts" to conclude an agreement on the allocation of the next tranche of €500 million within the European Peace Facility, which is currently being blocked by Hungary.
Additionally, Borrell and EU countries will continue discussions on security commitments to finalize work on a joint EU-Ukraine statement.
Ukraine Facility program
On February 28, the EU Council approved the Ukraine Facility program, under which Ukraine will receive €50 billion in long-term loans by 2027.
Furthermore, on March 12, Ukraine and the EU signed an agreement on transitional financing for Ukraine. The total amount of preferential funds provided is €6 billion. The first payment of €4.5 billion will be transferred to the Ukrainian state budget in March without conditions. The rest - €1.5 billion - Ukraine will be able to receive in April 2024 after the European Commission evaluates the indicators achieved.
The instrument for monitoring the use of EU funds for Ukraine under the four-year €50 billion Ukraine Facility program will have three levels of control.
