The European Union on Wednesday proposed the creation of a dedicated €100 billion (approximately $115 billion) fund to support Ukraine’s reconstruction between 2028 and 2034, marking a long-term commitment to the country’s recovery.

EU Budget Commissioner Piotr Serafin said the initiative represents a “long-term pledge toward Ukraine’s recovery and rebuilding,” adding that the proposed sum would be added to the EU’s upcoming multiannual budget.

According to reports, the €100 billion would serve to replenish the existing “Ukraine Fund” established in late 2023, which initially allocated €50 billion for the 2024–2027 period to provide financial assistance to Kyiv.

The proposed extension is intended to ensure sustained EU support for Ukraine as the country continues to face the ongoing consequences of war and the challenges of post-conflict reconstruction.