The EU urges partners to urgently help Ukraine with money

The European Union is calling on international partners to accelerate financial aid to Ukraine amid a growing budget deficit ahead of the winter season.

Need for additional funding During a meeting with the bloc's finance ministers in Dublin, to which colleagues from the United Kingdom, Switzerland, and Canada joined, EU Economic Affairs Commissioner Valdis Dombrovskis reminded of the initial aid distribution plan. "When we proposed a loan to support Ukraine, the idea was that it should cover about two-thirds of Ukraine's financial needs, and the other third should be covered by other international partners," Dombrovskis said. He added that Ukraine faces greater funding needs as Russia's aggression intensifies, but the discrepancy in figures can be resolved in a relatively short time. What deficit is expected Earlier, the EU approved a package of loans worth 90 billion euros (103 billion dollars) to support Kyiv for 2026-2027 years. However, due to large military expenditures, a deficit of about 27 billion dollars has emerged. Ukrainian Finance Minister Serhiy Marchenko, who also took part in the meeting, said that the shortfall for 2027 year could reach at least 32 billion dollars. At present, the International Monetary Fund, together with the European Commission, is assessing the final needs of Ukraine for the coming years. The EU is stepping up pressure on other countries, notably Japan and the United Kingdom. This issue will be one of the main topics at the United Nations General Assembly in New York.

Aid to Ukraine from the European Union. Recall that Brussels is actively seeking additional sources to support Ukraine amid a growing budget deficit. In particular, the EU is examining the possibility of directing 10 billion euros from the SAFE program toward joint defense projects with Ukraine. This concerns using the remaining unused resources, but the final amount of funds will depend on the final credits and the resolution of the Hungarian plan. In addition, the EU has already decided to allocate 3,3 billion euros to Ukraine for the purchase of missiles and drones for the Defense Forces. This, in turn, will launch a new program of joint defense initiatives designed to combine Ukrainian combat experience with Europe’s industrial potential.