In the first five months of 2025, Ukraine attracted nearly $18 billion in external aid in the form of concessional loans and grants. According to a report by the National Bank of Ukraine, by the end of the year, the total volume of international support could rise to $55 billion.
This is reported by Finway
Expectations for New Tranches and Conditions for International Support
The increase in aid is anticipated due to the accelerated inflow of funds through the ERA mechanism, as well as the implementation of planned financial support from the European Union under the Ukraine Facility program. To receive all planned tranches, Ukraine must timely and fully meet its obligations to international partners, particularly regarding cooperation programs with the International Monetary Fund and the Ukraine Facility. A new tranche is expected to arrive in June this year following the eighth review of the IMF program.
Growth of International Reserves and Currency Stability
Thanks to the accelerated inflow of funds from partners, Ukraine has significantly strengthened its international reserves. By early June 2025, they reached $44.5 billion, and the NBU’s forecast for the end of the year is around $58 billion. Both figures significantly exceed the required level of reserves according to the composite criterion of the IMF.
At the same time, the accumulated level of reserves this year is expected to decrease in the future, as they will be used to cover the needs of the currency market in the coming years. This will be particularly important during periods when the volumes of external support may decline.
In the first five months of 2025, Ukraine received nearly $18 billion in external aid in the form of concessional loans and grants, according to the NBU report.