The European Commission will examine possible options for covering Ukraine’s funding shortfall in 2027. At the same time, the EU is calling on international partners to step up their efforts and take on financial commitments.
This was stated by European Commission spokesperson Balazs Ujvari, Radio Liberty reports.
“We cannot do everything ourselves. That is why our partners, overall, must step up their efforts. They must come forward with financial commitments and deliver on them. This is very important,” Ujvari said.
According to him, Ukraine’s funding shortfall for 2027 is around €70 billion. This figure already includes the €45 billion the EU plans to provide next year, as well as part of international partners’ commitments. Therefore, Ukraine needs to find a further around €70 billion on top of the funding already planned.
Ujvari also recalled that a further roughly €30 billion in funding is earmarked for Ukraine in 2026. He stressed the importance of continuing reforms in order to receive these funds.
“For these funds to be paid out, Ukraine must continue the relevant reforms. And as for the defence component, we must secure agreements that ensure the implementation of the procurement schedule that has already been approved,” the spokesperson noted.
Answering a question about the possible use of frozen Russian assets to cover the shortfall, Ujvari said it was too early to talk about specific options.
“We have received a call from member states to examine what can be done at the level of the European Union. And that is exactly what we will be doing. We will consider possible options. But, again, this is not something we can do on our own,” he said.
European Commission chief spokesperson Paula Pinho also stressed that it is currently too early to specify exactly which mechanisms the EU could propose to cover the funding shortfall. The European Commission did not say when new options might be presented.
- Ukraine needs to secure more than $32bn in external financing for 2027. Ukraine’s need for external budget financing for next year exceeds $52bn.