Media: Ukraine will receive 186 billion euros if it joins the European Union

If it joins the European Union (EU), Ukraine will receive 186 billion euros from the community budget over seven years. About it reports Financial Times (FT) with reference to a document from the EU Council Secretariat assessing the financial consequences for the EU of the accession of new members.

In this scenario, for the first time in history, several member states of the association will become net payers. It is clarified that Ukraine will be able to receive 96.5 billion euros within the framework of the EU Common Agricultural Policy, as well as 61 billion euros from the EU Cohesion Fund, the funds of which are allocated for the development of infrastructure in poor EU countries.

FT writes that, in addition to Ukraine, eight more states are being considered as candidates for joining the EU, including Moldova and Georgia. The admission of all nine countries to the EU will cost Brussels 256.8 billion euros, the newspaper notes.

If the EU enlarges, the current budget will increase by 21% to €1.47 trillion, which corresponds to approximately 1.4% of the gross national income of these 36 countries. In addition, in this scenario, the Czech Republic, Estonia, Lithuania, Slovenia, Cyprus and Malta will lose their right to funding from the EU Cohesion Fund, FT notes.

An EU Council spokesman told the newspaper it “does not comment on leaks.”

Kyiv submitted documents to join the EU at the end of February 2022. Four months later, the country officially became a candidate for membership in the community. The head of the European Council, Charles Michel, previously admittedthat Ukraine could join the EU by 2030 if, in his words, “both sides do their homework.” He explained that Ukraine needs to carry out reforms, including to combat corruption, and the EU needs to “accelerate decision-making processes.”

On October 2, the first ever informal meeting of EU foreign ministers outside the EU took place in Kyiv. Announcing the meeting, EU High Representative for Foreign Affairs Josep Borrell expressed confidence that the future of Ukraine lies in the EU. According to him, EU membership is “the strongest security commitment” that the EU countries can offer Kyiv.