The European Union is drawing up plans for a 20-billion-euro ($22bn) fund to provide Ukraine with weapons, ammunition and military aid as it fights Russia’s invasion, officials have said.

Josep Borrell, the bloc’s foreign policy chief, outlined the four-year proposal to EU foreign ministers meeting in Brussels on Thursday.

Following the meeting, Borrell said the EU would “transform existing support into a long-term commitment” to Ukraine’s security and resilience.

“We propose the creation of a dedicated section on the European peace facility to provide up to five billion euros a year for the next four years for the defence needs of Ukraine,” he said.

“This is the evaluation of the needs and the costs of our long-term security commitments to Ukraine,” Borrell told reporters.

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Hungary is still holding up the disbursement of $556m in current EPF funds for Ukraine aid, demanding that Hungarian bank OTP first be removed from a Ukrainian blacklist.