EU plans to fund two-thirds of Ukraine's €70bn need for 2027

Financial support for 2027

The European Union intends to cover two-thirds of Ukraine's additional financial needs projected for 2027. The total amount of these needs is estimated at €70bn, meaning the EU's share will amount to approximately €46.7bn. This was stated by European Council President António Costa in an interview with Rapporteur.

«Зазвичай ми покриваємо дві третини фінансових потреб України» ("Usually we cover two-thirds of Ukraine's financial needs"), Costa noted.

Decision expected in November

According to the European Council President, at the last meeting, member state leaders agreed on meeting Ukraine's additional needs and tasked the European Commission with developing specific proposals. Costa added that work is ongoing and he expects a relevant decision to be adopted in November.

«Комісія працює, і я припускаю, що в листопаді ми зможемо прийняти рішення з цього питання» ("The Commission is working, and I assume that in November we will be able to make a decision on this matter"), he emphasised.

If leaders fail to reach an agreement at the 26–27 November meeting, the issue will be referred to the summit scheduled for 17–18 December.

Involving NATO countries outside the EU

A European Commission document, which Rapporteur has seen, contains a proposal for NATO countries that are not EU members to provide Ukraine with separate bilateral military aid amounting to €70bn. This initiative is linked to the implementation of agreements reached at the Alliance summit in Ankara in July. Among the states to which this call is directed are, in particular, the United Kingdom, Canada, and Norway.

The document emphasises that funding should be focused on the supply of drones, which Kyiv identifies as one of its key priorities.

Financing mechanisms and the position of individual countries

At the previous meeting, leaders indicated that one of the priority financing options could be a new loan secured by joint EU borrowing. Meanwhile, Hungary, Slovakia, the Czech Republic, and Bulgaria stated that they would not participate in the new credit but would not prevent other EU countries from agreeing to it.

Recall that Ukrainian President Volodymyr Zelensky stated last week at the Brussels summit that Ukraine will need an additional €70bn in 2027 to continue the fight against Russian aggression.