EU Prepares €2.7 Billion Aid for Ukraine

The European Union is preparing to release financial assistance to Ukraine of between €2.5 billion and €2.7 billion, following the recent approval of reforms by the Ukrainian parliament.

EU Enlargement Commissioner Marta Kos said the funding forms part of a broader plan requiring Kyiv to complete dozens of reform steps in order to access money from a special EU fund.

At the same time, Brussels is also counting on a much larger €90 billion loan. This has so far been blocked by the political situation in Hungary, but after Viktor Orban’s election defeat there is now scope for approval, Kos said.

Ukrainian Finance Minister Serhiy Marchenko said the country faces a budget gap of $52 billion in 2026, which European aid is expected to help cover.

(reuters, pir)