The European Commission and Ukraine have found a solution to fully cover our country’s budgetary and defence needs for 2026.
This is stated in a joint statement published on the European Commission’s website.
“We also confirmed the steps needed to ensure their timely disbursement. As for 2027, we agreed to move forward swiftly on the allocation of €45 billion under the Ukraine Support Loan, provided the established requirements are met. We will also begin work on identifying additional budgetary and defence needs,” the statement says.
Ukraine and the EU agreed that other partners must also meet their financial commitments and step up efforts, taking into account the challenges our country faces.
The parties also agreed to meet monthly to coordinate joint efforts.
- In 2027, Ukraine’s need for external financing will reach $52.6bn, Finance Minister Serhii Marchenko said during a meeting of the Ukrainian Donor Platform in Brussels.
- Prime Minister Serhiy Koretskyy later said that the Ukrainian government had switched to a maximum austerity mode and postponed all non-essential spending.
- This year, the budget shortfall of the Ministry of Defence stands at $27 billion. At the start of the year, the ministry decided to use funds planned for the second half of the year. They were spent on drones and other needs.