Three years of reporting, funded by our readers — become a member now and help us prepare for 2025.
Goal: 1,000 new members for our birthday. Gift a membership to your friend and help us prepare for what 2025 might bring.
Become a member Gift membership
Skip to content
Edit post

Bloomberg: NATO considers establishing $100 billion fund to aid Ukraine over 5 years

by Kateryna Hodunova April 2, 2024 11:33 PM 2 min read
NATO Secretary General Jens Stoltenberg holds a press conference at NATO headquarters during the first of two days of defense ministers' meetings on Feb. 14, 2024, in Brussels, Belgium. (Omar Havana / Getty Images)
This audio is created with AI assistance

NATO Secretary General Jens Stoltenberg suggested creating an allied fund worth $100 billion over five years for Ukraine, Bloomberg reported on April 2, citing unnamed sources with knowledge of the issue.

The news about the proposal comes ahead of NATO foreign ministers' meeting in Brussels on April 3-4 to celebrate the alliance’s 75th anniversary and discuss further assistance for Ukraine, as well as the potential candidates for the Secretary General's position after the end of Stoltenberg's term in October.

According to Bloomberg, the proposal, which would need to be approved by all 32 alliance members, is likely to be amended by the NATO summit in July. Apart from that, "Allies are still discussing Stoltenberg’s proposal and any mechanics of the accounting, including whether to factor in bilateral aid to Ukraine into the overall sum," Bloomberg reported.

NATO could also take over the operational duties of the U.S.-led Ukraine Contact Defense Group, which coordinates weapons deliveries by about 50 countries to Ukraine, according to the report.

"With NATO's supreme allied commander, General Chris Cavoli, in charge, such a step could protect the structure from any political change that may result after the November elections," Bloomberg said, referring to the potential victory of Donald Trump at the upcoming U.S. presidential elections in light of his controversial remarks about the alliance's future and support for Ukraine.

According to Bloomberg, the support of Stoltenberg's proposal could indicate "a paradigm shift" for NATO, which has previously distanced itself from similar efforts to avoid being drawn in a wider war with Russia.

While being united as a bloc against Russia’s full-scale invasion, levels of support between NATO member states, as well as their public statements on the threat to European security that the Kremlin poses, vary.

NATO members geographically closer to Russia such as the Baltic states have been more outspoken than others.

Previously, Sweden's Foreign Minister Tobias Billstrom said that “not all countries understand the sense of urgency to act that there is,” referring to Russia's war and supporting Ukraine.

On March 20, Estonian Prime Minister, Kaja Kallas, said a Russian defeat in Ukraine would help prevent World War III.

Can new security agreements forge Ukraine’s path to victory?
In early 2024, Ukraine signed seven agreements with allied countries that span for the next decade, aiming to guarantee Ukraine’s security while negotiating NATO membership. According to President Volodymyr Zelensky’s diplomatic adviser, Ukraine is negotiating 10 more bilateral deals. The biggest…
Three years of reporting, funded by our readers.
Millions read the Kyiv Independent, but only one in 10,000 readers makes a financial contribution. Thanks to our community we've been able to keep our reporting free and accessible to everyone. For our third birthday, we're looking for 1,000 new members to help fund our mission and to help us prepare for what 2025 might bring.
Three years. Millions of readers. All thanks to 12,000 supporters.
It’s thanks to readers like you that we can celebrate another birthday this November. We’re looking for another 1,000 members to help fund our mission, keep our journalism accessible for all, and prepare for whatever 2025 might bring. Consider gifting a membership today or help us spread the word.
Help us get 1,000 new members!
Become a member Gift membership
visa masterCard americanExpress

News Feed

3:44 PM

Russian ICBM strike would be 'clear escalation,' EU says.

"While we're assessing the full facts, it's obvious that such (an) attack would mark yet another clear escalation from the side of (Russian President Vladimir Putin," EU foreign affairs spokesperson Peter Stano said, according to AFP.
1:40 PM

Merkel describes Trump as 'fascinated by Putin' in her memoir.

"(Donald Trump) saw everything from the point of view of a property developer, which is what he was before he came into politics. Every plot of land could only be sold once, and if he didn't get it, someone else would," Angela Merkel says in her memoir.
11:54 PM

Biden seeks to cancel over $4.5 billion of Ukraine's debt.

"We have taken the step that was outlined in the law to cancel those loans, provide that economic assistance to Ukraine, and now Congress is welcome to take it up if they wish," U.S. State Department spokesperson Matthew Miller said on Nov. 20.
MORE NEWS

Editors' Picks

Enter your email to subscribe
Please, enter correct email address
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Subscribe
* indicates required

Subscribe

* indicates required
Subscribe
* indicates required
Subscribe
* indicates required
Explaining Ukraine with Kate Tsurkan
* indicates required
Successfuly subscribed
Thank you for signing up for this newsletter. We’ve sent you a confirmation email.