Stoltenberg rejects idea of $100 billion fund for Ukraine - Bloomberg
Stoltenberg rejects idea of $100 billion fund for Ukraine - Bloomberg
NATO Secretary General Jens Stoltenberg is canceling plans for a five-year, $100 billion fund for military aid to Ukraine after encountering resistance from alliance members. He is now asking countries to maintain their current contributions, reports Bloomberg.
According to a new proposal that may be supported by NATO defense ministers when they gather in Brussels next week, allies will commit to spending at least $43 billion annually on assistance to Ukraine, sources told the publication.
This corresponds to the average annual contribution since Russia's full-scale invasion of Ukraine in 2022.
NATO will determine each country's contribution targets based on a percentage of their gross domestic product, and then likely publish the overall figures in an annual report.
According to the sources, the goal is to provide greater transparency about what allies are providing to Ukraine while gently pressuring those members who are not fulfilling their commitments.
The US will account for about half of the aid, with the remaining provided by the other 31 alliance members.
While the new plan will not require additional funds, NATO hopes it will provide Kyiv with greater predictability regarding the level of support in the coming years. Allies were impressed after the US Congress waited several months to approve a new round of aid, and they are also concerned that the possible re-election of Donald Trump in November could affect Ukraine's funding.
According to Bloomberg's sources, this proposal enjoys wide support from almost all allies, although Hungary remains the most challenging issue.
Bloomberg's sources also say that Turkiye has expressed its concerns about other parts of the package for Ukraine, which is to be agreed upon by leaders in Washington.
NATO is also proposing to take over the operational responsibilities of the US-led Defense Contact Group for Ukraine, which coordinates arms supplies to Ukraine with about 50 countries. Under the leadership of NATO's Supreme Allied Commander, such a step could protect the structure from any political changes that may occur after the US elections, Bloomberg writes.
Its sources noted that Turkiye urged caution to ensure that any coordination of military assistance does not create the impression of increased involvement of allies in the conflict.
Stoltenberg's plan regarding the fund to support Ukraine
In April, Stoltenberg proposed creating 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 NATO member countries at the summit in Washington.
At the end of May, Reuters reported that NATO allies were demanding the Secretary General provide greater clarity on his plan this week. Behind the scenes, even some of Ukraine's closest East European allies have become more cautious about this plan in recent weeks, questioning where such a huge sum of money will come from and how it will be obtained, the agency reported.