Von der Leyen: Ukraine faces funding shortfall of EUR 70 bln for 2027; assistance from partners needed

European Commission President Ursula von der Leyen emphasized the critical importance of international partners joining forces to provide financial aid to Ukraine. Speaking at a joint press conference with European Council President Antonio Costa in Brussels, von der Leyen noted that Ukraine's needs would likely expand due to Russia's ongoing military campaign.

She stated that the European Union and its member states currently cover 80% of Ukraine's external aid, but stressed the urgent need for additional support. The EU President expressed her conviction that providing aid to Ukraine is of utmost importance, as Russia is testing Ukraine's resilience and endangering its economy. Von der Leyen revealed that the EU had already allocated nearly EUR 16 billion towards Ukraine's defense component, and the organization is committed to supporting Ukraine's state budget.

She further indicated that an additional EUR 17 billion could be provided by the year's end, contingent upon Ukraine's implementation of necessary reforms. Despite Europe's current efforts, von der Leyen emphasized that Ukraine's financing requirements will continue to rise as long as the conflict persists. The EU President also highlighted that the EU is engaging in discussions with Ukraine and the United States to explore avenues for ending the war and restoring peace.

She reiterated that, similar to the past five years, it is the Ukrainian people who most earnestly desire peace, and it falls to the EU to assist them in attaining a just and enduring peace.