The European Union has urged Ukraine to implement agreed reforms to access already approved financial assistance, emphasizing this step before seeking additional funding for 2027. This comes as Ukraine faces a potential funding gap of approximately €69 billion next year, with expenses driven by defense and essential government services.
Currently, the EU’s priority is to release funds already committed under the bloc’s €90 billion support loan for 2026–27. Of the €45 billion allocated for 2026, only around €15 billion has been disbursed, with future payments contingent upon Ukraine’s implementation of the necessary reforms. EU officials have pressed Ukraine’s government and institutions to expedite these measures.
In addition to EU support, the International Monetary Fund is also involved in assessing Ukraine’s projected financial needs and exploring solutions for the anticipated shortfall. Meanwhile, Ukraine has proposed that European countries utilize frozen Russian central bank assets to finance its wartime needs. This proposal, however, faces opposition from some European governments due to legal and financial concerns, particularly in Belgium, where a significant portion of the assets is held.
For now, the EU remains focused on ensuring that Ukraine fulfills the conditions attached to existing financial assistance, with discussions ongoing regarding its future financing requirements.