"There is no financial gap" - EU made a new statement regarding funding for Ukraine
Kyiv • UNN
The EU and Ukraine have agreed to cover budgetary and defense needs through the end of 2026. The parties also agreed to coordinate funding on a monthly basis.
Representatives of the European Union and Ukraine concluded following the talks that there is no financing gap concerning funding for Ukraine this year. European Commission spokesperson Paula Pinho stated this during a briefing on October 2, UNN reports.
We have never said that there was a financing gap. That is what we heard from the reports, essentially, is it not? So let us also recall that yesterday, together with our Ukrainian friends, we concluded that there is no financing gap, and that is exactly what we have been telling you from this podium. When we were asked—and you asked us about this alleged gap several times—we said that we needed to sit down with our Ukrainian partners and assess whether there really was a gap and what its scale was
She was commenting on the statement published by the European Commission on October 1
in response to a question about how they had reached the "conclusion that all needs are covered and that there is no need for additional funding," against the backdrop of earlier reports about a $27 billion shortfall in Ukraine's Ministry of Defence this year.
European Commission spokesperson Balazs Ujvari explained that "there was indeed a productive meeting in Brussels, which was effectively a continuation of the recent meeting between President von der Leyen and President Zelenskyy in New York. It was an opportunity to align on a number of points. First, we identified the means to cover Ukraine's budgetary and defence needs for the remainder of 2026. The EU has allocated $45 billion under the Ukraine Support Loan, a significant portion of which has already been disbursed. The main focus now is on the timely release of the remaining available funding for 2026, also under the Ukraine Facility and in line with the agreed conditions and reform commitments."
"Secondly, in 2027, we agreed to move quickly toward a $45 billion tranche of the Ukraine Support Loan, of course, subject to the relevant conditions being met. This will play a significant role in meeting Ukraine's needs next year. We have also begun working to identify additional budgetary and defence needs for 2027," he said. He added: "In this regard, it is important that other partners also meet their financial commitments and step up their efforts in view of the significant challenges Ukraine is facing."
"And thirdly, they agreed to meet monthly to coordinate our joint efforts," he noted.
Regarding the figures for next year, Ujvari said: "We see the need to continue communicating with each other, because yesterday we saw that sitting down at the same table to discuss financial matters, defence needs and budgetary needs is the right way forward. It brings clarity. That is why we decided to continue holding such meetings every month, which will serve as an opportunity to better understand changing financing needs, both in the budgetary and defence spheres."
"I think the main conclusion of yesterday's meeting is that we reviewed what is being prepared by the European Union. Yesterday's figure was 37 billion; today it has decreased slightly to 34 billion, taking into account the payment we have just made, and we concluded that what is being prepared will effectively meet Ukraine's needs this year," Ujvari concluded.