European Union leaders have instructed the European Commission to draw up specific proposals to meet Ukraine’s additional financial needs in 2027, which are estimated at €70 billion.
According to the European bureau of Report, this was announced by the President of the European Council, António Costa, at a joint press conference with European Commission President Ursula von der Leyen following the EU summit in Brussels.
He said this decision was taken after EU leaders had heard from Ukrainian President Volodymyr Zelenskyy.
“We immediately agreed that Ukraine’s additional financial needs in 2027 must be met, and asked the European Commission to present a concrete proposal for discussion and approval,” said Costa.
European Commission President Ursula von der Leyen explained that the previously approved €90 billion support loan for Ukraine covers two-thirds of its necessary budgetary and defence expenditure. Of this amount, €45 billion is planned to be allocated in 2026, with the remaining half to follow in the future.
According to her, Ukraine’s funding needs for 2026 are already covered, but there remains a shortfall of €70 billion for 2027.
“It is now clear that there is a €70 billion shortfall that needs to be covered,” said von der Leyen, noting that when the €90 billion loan was being planned, it was impossible to foresee the situation in 2027.
She added that part of the necessary funds should come from Ukraine’s international partners.
