Estonia proposed a €120 billion financing plan for Ukraine
According to Estonia, which is seeking more than 100 billion euros to achieve this goal, borrowing from the financial markets or allocating funds from the state budget are the best ways to give Ukraine what it needs to win the fight against Russian aggression.
This was stated by the Permanent Secretary of the Ministry of Defense of Estonia Kusti Salm, Censor.NET informs with reference to Euractiv.
"The allocation of 120 billion euros per year for military aid to Ukraine is an approximate figure that should be enough for Ukraine to win the war," he emphasized.
Salm suggested that part of this amount could be financed by Eurobonds, for which the European Commission could raise funds from financial markets and use EU countries as guarantors.
Over the past few months, Estonian politicians and officials have repeatedly stated that for Ukraine to win the war, it is necessary for Western allies to invest 0.25% of their GDP in military aid to the country, based on a strategy developed by the Estonian Ministry of Defense.
"If the more than 50 countries that are part of the Ramstein coalition, which provides military support to Ukraine, spent this percentage, it would amount to more than 120 billion euros per year. With this money, by 2025, Ukraine will reach a level where it can confront Russia ", Salm emphasized.
At the same time, he warned that even if this amount begins to flow to budgets now, its effect will be felt almost a year later.
"It will take another (about nine months) for supplies to reach the level necessary for Ukraine to be able to convincingly reach this level of depletion," added the Estonian Defense Ministry secretary.
