Ukraine and the European Commission have reached an agreement on the steps necessary to cover Kiev's budgetary and defense needs in 2026. This was announced by President Volodymyr Zelensky and the European Commission, BTA reports.
“We agreed on the form, timeframe and steps necessary to ensure full coverage“, Zelensky said.
According to Ukrainian authorities, the country has a deficit of about $27 billion for its defense spending this year. In parallel, Kiev is preparing funding for 2027, when needs are also expected to remain significant.
In the joint statement, the EU and Ukraine indicated that work on the disbursement of EUR 45 billion of the European loan for Ukraine will be accelerated for 2027, subject to the agreed conditions. The two countries will also begin an assessment of additional budgetary and defense needs.
The total European loan for 2026 and 2027 is worth EUR 90 billion. According to its structure, about EUR 60 billion is intended for defense support, and EUR 30 billion for budgetary needs. For 2026, the EU has already earmarked up to €45 billion, of which up to €16.7 billion is for budget support and €28.3 billion for Ukraine's defense capabilities.
Zelensky thanked European partners and said that additional measures were being prepared to strengthen the country. The joint statement also stressed the need for Kiev's remaining international partners to fulfill their financial commitments, given Ukraine's ongoing needs.