The program provides €4 billion for 2025: Scholz explains the situation with military aid to Ukraine
German Chancellor Olaf Scholz said that Berlin would continue to provide military assistance to Ukraine both from its own budget and together with its G7 partners. The draft budget for 2025 provides 4 billion euros for bilateral military support, and Kyiv will receive a total of $50 billion in loans from the G7, which will be covered by the proceeds from the frozen assets of the Russian central bank.
Scholz announced on August 28 at a joint press conference with British Prime Minister Keir Starmer after their talks in Berlin. "The draft budget for the next year provides and will provide 4 billion euros for bilateral military support to Ukraine. In addition, we, together with the G7 countries, will provide Ukraine with a $50 billion loan," he said.
The politician added that this should provide guaranteed, reliable financial support.
The loan, according to Scholz, will be covered by the proceeds from the frozen assets of the Russian central bank, as agreed at the G7 summit in Italy in June.
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The German Chancellor expressed confidence that this is not an easy task, but it is quite possible to implement it. All parties want to launch this mechanism very quickly, he said.
Currently, representatives of all interested countries are working intensively on the technical conditions, in particular, Scholz held consultations with the European Commission leadership on the European share, with the leaders of other G7 partners.
"I believe that we will be able to clarify the technical requirements soon," he said.
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Despite recent attempts to sow doubts about Germany's readiness to continue helping Ukraine, Berlin will continue to provide its financial, economic, political, and military support to Kyiv as long as it is needed, Scholz said.
He also reminded that Germany is Europe's largest aid provider and plans to remain so.
When asked about the possibility of transferring new types of weapons to Ukraine, in particular long-range missiles, Mr. Scholz said that there are no new decisions at the moment.
Map of the fighting in Ukraine
Source: ISW
As OBOZ.UA previously reported, German media reported that Germany was planning to freeze new financial and military aid to Ukraine. Allegedly, Finance Minister Christian Lindner asked Defense Minister Borys Pistorius to stop these payments, saying that "new measures" should be taken only if "funding is secured" in the budget plans for 2024 and 2025.
Information about the plans to drastically cut military aid to Ukraine hit the shares of German defense companies, such as Rheinmetall, Hensoldt, BAE Systems, and others.
As a reminder, Ukraine will receive a $50 billion loan from the G7 countries, which will be repaid from the proceeds of Russia's seized assets in the EU, the US, and other partner countries. The latter are estimated at $280 billion, and this amount will not change after the loan is repaid at Russia's expense.
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Olaf Scholz
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