European Commission examines EUR 70 bln financing gap for Ukraine in 2027, looks to partners’ support

The European Commission is investigating a financing shortfall of EUR 70 billion for Ukraine in 2027, with a request for support from international partners. Balázs Ujvari, a spokesperson for the European Commission responsible for budget and economic affairs, made this statement during a briefing in Brussels. The EU leaders had previously directed the Commission to explore options to address this gap.

The Commission emphasizes that they cannot tackle this issue alone, and thus, they seek partners to step up and commit to this cause. Presently, the pledges made by the EU and its partners leave a financing gap of approximately EUR 70 billion. This figure takes into account the EUR 45 billion allocated by the EU for the upcoming year and some commitments already made by international partners.

The President of the European Council reiterated that this is a joint effort, and the EU and Commission will examine possible avenues to address this situation. The Commission will commence by preparing a financing strategy, outlining the amounts to be provided to Ukraine through various financial instruments and defining the necessary reforms.

According to Ujvari, Ukraine will receive an additional EUR 30 billion as part of the support loan for the current year, contingent upon the completion of relevant reforms, including those in the defense sector. The Commission also highlighted that Ukraine has already been granted two tranches under the macro-financial assistance program, totaling EUR 7.6 billion.

They are currently reviewing recent laws passed by the Ukrainian parliament to determine their eligibility for further disbursement.