European officials will consider a new plan this week that would provide military support to Ukraine, as reported by The Wall Street Journal. The plan, revealed on January 19 and first reported by Bloomberg, aims to establish a special fund that would receive 6.5 billion euros ($7.5 billion) from the European Defense Fund. Additionally, there would be an annual transfer of 5 billion euros from 2024 to 2027.

The funds from this new fund would be utilized by the European Union to purchase equipment, such as air defenses, anti-aircraft systems, and ammunition, to aid in Ukraine’s collective defense. Additionally, a portion of the funds would be allocated to training Ukrainian troops in the European Union.

If the new plan is approved by the EU, participating countries could potentially access over 20 billion euros from the European Union’s defense funds over the next four years for military assistance purposes, according to the WSJ.

The plan takes into account Ukraine’s reliance on Russian support and assumes that the country would be eligible for a 7.5 billion euro refund for military aid from the European Union. The plan emphasizes the importance of the EU’s choice in either aligning with Russia’s requirements or maintaining its involvement, as reported by the WSJ.

EU leaders are expected to discuss the proposal during a scheduled summit on February 1.