Estonia proposes $130 billion annual plan to give Ukraine ‘what it needs to win’
Estonia has proposed a 120-billion-euro ($131.3 billion) financing plan for Ukraine, according to Kusti Salm, Permanent Secretary of the Estonian Defense Ministry, European outlet Euractiv reported on March 13.
The country is currently seeking 100 billion euros ($109.4 billion) to achieve this goal. Salm stated that borrowing from financial markets or national budgets is the optimal approach to provide Ukraine with the resources it needs to succeed in the war.
“Allocating 120 billion euros annually for military aid to Ukraine is an approximate figure that should be sufficient for Ukraine to prevail,” Salm said.
Part of this funding could be sourced from Eurobonds, with the European Commission raising funds from financial markets and EU countries serving as guarantors.
Estonian politicians have emphasized that for Ukraine to win the war, Western allies should invest 0.25% of their GDP in military assistance to the country.
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“If the 50-plus countries in the US-led ‘Ramstein’ coalition supporting Ukraine militarily allocate that percentage, it would surpass 120 billion euros per year,” noted the Permanent Secretary of the Estonian Defense Ministry.
“With this funding, by 2025, Ukraine will attain a level of capability to effectively resist Russia.”However, even if funding begins now, it will take nearly a year to ensure Ukraine receives the necessary supplies.
“It will take an additional approximately nine months to ramp up supplies to the required level for Ukraine to credibly reach this level of resilience,” added the Estonian defense official.
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