The Cabinet of Ministers of Ukraine has granted the Ministry of Finance permission to raise additional loan funds of up to ₴55 billion. These loans may be obtained from the European Union, international financial organizations, as well as through the issuance of domestic government bonds (OVDP) beyond the already approved borrowing volumes for the current year.
This is reported by Finway
Reasons and Consequences of Delays in Financial Aid
The government emphasizes that the process of approving financial packages is becoming increasingly complex. As a result, there are delays in the receipt of funds, which raises the risks of untimely financing of critically important expenditures in the state budget. The Ministry of Finance explains that forming a reserve of budget funds will help ensure stable liquidity and solvency at the beginning of the new budget period.
“The formation of a reserve of budget funds will contribute to ensuring liquidity and solvency at the beginning of the next budget period,” the Ministry of Finance explained.
Consequences of Funding Deficits for Ukraine
The head of the Budget Committee of the Verkhovna Rada, Roksolana Pidlasa, warned that without additional external support, starting from April 1, 2026, Ukraine may find itself without sufficient funds to finance social expenditures. According to her, $45.5 billion is needed to support humanitarian and social programs, which is currently not covered by the budget.
The publication The Telegraph reported that Ukraine’s funding deficit for 2026–2027 is estimated at €55 billion. Such a lack of resources could significantly impact the course of the war with Russia. If Ukraine does not receive a loan from the EU secured by frozen Russian assets, there is a risk of lacking the necessary funds to maintain defense capabilities as early as spring. At the same time, obtaining reparations loans and directing them towards military needs could become an important argument for pressuring Moscow and prompting the Russian side to negotiate.
President Volodymyr Zelensky emphasized that without the influx of funds from reparations loans in the spring of 2026, Ukraine’s production of drones for the front will sharply decline, and there will be difficulties in carrying out strikes on Russia’s energy infrastructure.