Page 43 - UKRRptSept23

Kyiv from political instability. On August 29, EU ministers resumed consultations, and support for Ukraine will be the main agenda item at the ministers of defense and foreign affairs meetings. The largest EU countries are discussing the aspects of supplementing the multi-year program for Ukraine to reach a consensus.
The war in Ukraine has provoked "budget battles" in the EU. The financing of Ukraine accounts for half of the almost €100B that the European Commission is asking to allocate in order to strengthen the EU budget for 2021-2027. The other half will be divided among six areas: migration, a sovereign fund for implementing the industrial plan, interest on debt for post-pandemic recovery, personnel costs, and a contingency reserve. As Euronews writes, the European Parliament's budget committee wants to increase spending by another €10B. In particular, the EU wants to contribute more money to the €50B Ukrainian Fund to support the country from 2024 to 2027. These funds will be divided into grants and loans. The European Parliament has approved the European Commission's proposal to revise the budget but opposes cuts to current programs. Such ambitions are likely to meet resistance from the European Council, as several member states do not want to pay more into the Brussels coffers or take on new joint debt obligations.
The European Parliament has proposed an audit of the EU Fund for Ukraine. The Budget Control Committee of the European Parliament published a proposal on the use of EU budget funds of the €50B EU Ukrainian Fund. The document contains recommendations for an agreement between the EU and Ukraine to introduce such a fund. It outlines strict requirements for the European Commission and the Ukrainian contingent to ensure transparency and accountability in using European taxpayers' money. The document calls for the European Anti-Fraud Office to be empowered to conduct administrative investigations, inspections, and on-the-spot checks to detect fraud, abuse, or other violations. The EC, the European Court of Auditors, and the Office of the European Prosecutor must also obtain the necessary rights and access. Ukraine should also use the Early Detection and Warning System and report to the European Commission about violations related to the use of these funds. Ukraine must publish data on individuals and institutions that will receive funding of more than €300,000 as part of implementing reforms and investments.
Ukraine will need at least $42 billion in foreign financial aid in 2024. Ukraine will need at least $42 billion in foreign financial aid in 2024 due to high defense and security expenditures, Finance Minister Serhii Marchenko told Radio Free Europe/Radio Liberty (RFE/RL) in an interview on Aug. 9.
US announces $200 million military aid package for Ukraine. The U.S. has announced a $200 million military aid package for Ukraine, including munitions for Patriot air defense systems and HIMARS, as well as other support, the Pentagon said on Aug. 14.
Since the war, Ukraine has received a record $66.2B in aid from the US.The US's military and humanitarian financial aid is the largest single source of aid from an ally of Ukraine. Experts see this amount as a large-scale investment in a US ally that has not been seen since World War II. The funding generally aims to supply weapons, training, medicine, generators, and recovery. The military aid alone provided by the US to Ukraine amounts to
43 UKRAINE Country Report September 2023 www.intellinews.com