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NATO to propose $100 billion 5-year fund for Ukraine as US aid faces delays, sources say

Photo by Marek Studzinski / Unsplash

NATO Secretary General Jens Stoltenberg will propose the creation of a $100 billion fund for Ukraine at a meeting of alliance foreign ministers on Wednesday, various news media reported, citing anonymous sources.

The fund would be used to support Ukraine over the next five years, making up for delays in a $60 billion US aid package currently stalled in Congress, but it's not yet clear where the money will come from.

It's also meant to protect against any cut in funding for Ukraine that could come if Donald Trump wins US presidential elections late this year and reins in US support.

Talks between NATO members include the idea that the countries would contribute to the fund based on their Gross National Income, which also represents the share of NATO's budget they currently contribute, Politico reported.

Reuters reported, citing five anonymous sources, that NATO would also create a Mission for Ukraine as part of the plan, with the task of coordinating the alliance's support for Ukraine, but it's not yet clear how it would operate.

"A fund of 100 billion looks very optimistic, knowing how difficult it was to agree on a smaller amount at EU level," an unnamed diplomat told the news agency.

A NATO official said no final decisions will be taken this week and talks to be held Wednesday and Thursday are meant to prepare for NATO's July summit in Washington.

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