Ukraine received $22 billion in external support in six months and is already negotiating funding for 2026

In the first half of 2025, Ukraine attracted $22 billion in external financial aid to its state budget. The majority of these funds came from G7 countries and the European Union under the ERA initiative — $17.6 billion.

This is reported by AgroReview

Structure of external financing in 2025

Over six months, Ukraine received additional funds through various programs and cooperation with international organizations:

• $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 need for external financing by the end of 2025 is $39.3 billion. In total, since the beginning of the full-scale war, international partners have directed over $137 billion in budget support to Ukraine.”

Plans for funding in 2026 and reducing the deficit

Prime Minister Denys Shmyhal noted that the government has a clear understanding of how to cover the budget deficit for 2025. At the same time, negotiations have already begun to attract funding for 2026, which, according to officials, is characterized by significant uncertainty.

According to the Budget Declaration for 2026–2028, Ukraine plans to gradually reduce the volume of external financial support and decrease the state budget deficit. The projected deficit level for 2026 is 9.9% of GDP, 5.2% in 2027, and 3.8% in 2028. It is expected that in the next three years, the main source of budget financing will be debt operations. In 2026, total loans are expected to amount to ₴1.03 trillion, in 2027 — ₴618 billion, and in 2028 — ₴510 billion. The state plans to attract funds both through internal reserves — domestic government bonds — and from external partners.