The European Commission today unveiled its proposal for the European Union’s largest ever long-term budget, valued at just under two trillion euros. This ambitious seven-year financial framework includes significant allocations for various initiatives, notably a dedicated “Global Europe” fund aimed at facilitating the EU’s enlargement.
According to the Brussels-based portal Euractiv, the proposed budget consolidates previously separate spending programs for agriculture and regional development, re-categorizing them under national plans for each of the 27 member states. It also establishes a €400 billion fund to bolster the struggling industrial sector.
“Global Europe” Fund and Ukraine Support
A key component of the proposal is the €200 billion “Global Europe” fund. This fund, combining previously distinct programs, will allocate resources across six regional sub-programs, including EU enlargement and foreign policy initiatives.
The draft budget also confirms the previously announced off-budget fund of $100 billion for long-term support to Ukraine, spanning from 2028 to 2034.
The European Commission emphasized that “enlargement is an investment in Europe’s long-term security, peace, stability, and prosperity.” It added that “Global Europe” will provide a “coherent package of support to candidate countries (for EU membership) to accelerate their alignment with European values” and the “acquis” (the body of EU laws, rules, standards, policies, and practices), “through the adoption and implementation of performance-based plans.”
Unwavering Support for Ukraine
The Commission reiterated that the “Union’s unwavering support for Ukraine will remain a key priority” in the next multi-annual budget and will “reflect broader EU geopolitical objectives.”
“The next long-term EU budget will be structured to enable the Union to take care of Ukraine’s extraordinary and unpredictable needs, in the context of Russia’s war of aggression, and at the same time enable adequate support for Ukraine on its path to joining the Union,” the statement concluded, as reported by Beta.
