EU Launches €150 Billion Fund for Ukraine's Defense

The European Union is launching a 150 billion euro fund to support Ukraine's defense against the ongoing conflict. This significant financial commitment, approved by EU member states, will enable the purchase of weapons and provide crucial aid. The initiative, initially proposed by the European Commission earlier this year, will operate through a mechanism allowing member countries to secure loans from Brussels. These funds will primarily be used for joint purchases of military equipment, strengthening Ukraine's defense capabilities. A spokesperson for the European Commission stated, "This fund represents a decisive step in supporting Ukraine's resilience and its fight for sovereignty." Formal confirmation of the fund's launch is anticipated on May 21st, 2025. This development marks a substantial escalation of EU support for Ukraine and signals a united front against the ongoing conflict.