In the first half of 2025, Ukraine’s state budget was supplemented by foreign funding amounting to $22 billion. The largest portion of this sum—$17.6 billion—was provided by the G7 countries and the European Union as part of the ERA initiative.
This is reported by Business • Media
Structure of Financial Aid and Main Sources
According to the Ministry of Finance, a significant portion of the foreign funding received during the six months of 2025 came from the following partners:
- $3.8 billion—from the EU in the form of concessional financing and grants under the Ukraine Facility program;
- $400 million—from the International Monetary Fund;
- $190 million—concessional financing from Japan;
- $50 million—concessional financing from the World Bank.
The Ministry of Finance emphasizes that Ukraine’s need for foreign funding until the end of 2025 amounts to $39.3 billion. Since the beginning of the full-scale war, international partners have already provided over $137 billion in budget support for Ukraine.
Future Plans and Reduction of External Support
Prime Minister Denys Shmyhal noted that the government has a clear understanding of how to cover the budget deficit this year and is already negotiating with international partners about funding for 2026.
“The government understands how to close the budget deficit this year, while negotiations are already underway for funding in 2026, which carries a lot of uncertainty.”
At the same time, according to the Budget Declaration for 2026–2028, a gradual reduction in external financial support is planned in the medium term, as well as a decrease in the state budget deficit. Specifically, in 2026, a deficit of 9.9% of GDP is projected, in 2027—5.2%, and in 2028—3.8% of GDP. Over the next three years, the main part of the state budget financing will be carried out through debt operations. The projected amount of debt borrowing for 2026 will be UAH 1.03 trillion, decreasing to UAH 618 billion in 2027, and to UAH 510 billion in 2028. The state plans to raise funds both through domestic government bonds and through cooperation with international partners.