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NATO proposes to create five-year fund for Ukraine worth $100 billion - Bloomberg

NATO proposes to create five-year fund for Ukraine worth $100 billion - Bloomberg Photo: NATO Secretary General Jens Stoltenberg (Getty Images)

NATO Secretary General Jens Stoltenberg proposes establishing a fund of contributions from allies totaling $100 billion over five years for Ukraine as part of a package to be signed by leaders of Alliance member countries at the summit in Washington, Bloomberg reports.

According to a Bloomberg interlocutor, Alliance members are still discussing Stoltenberg's proposal and mechanisms for distributing contributions, including whether bilateral assistance to Ukraine should be included in the overall amount.

Sources suggest that the proposal, which requires approval from the 32 NATO member countries, is likely to be altered before allies agree to it.

As part of the NATO package, the Alliance may also assume operational responsibilities for the US-led Defense Ukraine Contact Group, which coordinates arms deliveries to Ukraine from around 50 countries. Such a move could shield this structure from any political changes that may occur after the US presidential elections in November.

It is noted that if allies support Stoltenberg's proposal, it will signify NATO's transition to a more active role in assisting Ukraine and a change in the behavior model of the military alliance, which previously distanced itself from such efforts to avoid potential entanglement in a war with Russia.

At the same time, NATO's reaffirmation of support may indicate the long-term commitment of allies to Ukraine at a time when Vladimir Putin is betting that he can outlast Kyiv's allies - especially since Alliance members are unlikely to extend an official invitation to Ukraine to join NATO when leaders of member countries gather in early July in Washington.

Support for Ukraine from NATO

Recently, NATO Secretary General Jens Stoltenberg stated that the situation on the battlefield in Ukraine remains complex. According to him, NATO allies provide 99% of all military aid.

Later, the head of NATO's Military Committee, Rob Bauer, said that Ukraine can still achieve success in its fight against Russia. However, partners must increase their assistance.