EU urges partners to cover Ukraine's €70 billion funding gap in 2027 – Politico
The European Union is preparing to urge Canada and the UK to significantly increase their support for Ukraine to help cover a €70 billion funding gap Kyiv will face in 2027.
Source: Brussels-based politics and policy news organisation Politico, citing five EU and European Commission officials and diplomats
Details: Politico said the main opportunities for negotiations will be the EU-Canada summit on 29-30 October and the EU-UK summit on 20 November. EU ambassadors are due to discuss preparations for these events and Ukraine's funding needs on 22 October.
The EU has already allocated a €90 billion loan to Kyiv for 2026-2027, which is expected to cover around two-thirds of Ukraine's needs. Brussels had expected other countries, including Canada, Japan, South Korea, Australia and Norway, to provide a further €45 billion. However, the money is arriving slowly, while Ukraine's projected expenditure is rising as Russian attacks intensify.
European officials stress that the appeals are not intended as a criticism of London or Ottawa, as both countries have consistently supported Ukraine. The issue is solely the growing financial needs of Kyiv, making it "a central discussion in every single meeting" with partner countries, a European Commission representative said.
"We urgently need other partners to step up," European Commission President Ursula von der Leyen said on 16 October.
Brussels has already raised Ukraine's 2027 funding needs at meetings of the International Monetary Fund, the G7 and the G20 as well as in discussions with countries belonging to the Gulf Cooperation Council.
"During my meetings in Bangkok, the need to secure financial support for Ukraine in 2027 was a prominent topic," European Commissioner for the Economy Valdis Dombrovskis told Politico, referring to recent meetings of the International Monetary Fund (IMF) and the World Bank Group. He said he had called for "broad burden sharing and stressed the importance of international partners each doing their part as Ukraine continues fighting Russian aggression".
The UK has so far provided £25 billion in support for Ukraine. Kathryn Serieux, a spokesperson for Canada's Privy Council Office, said Ottawa had already allocated nearly C$26 billion in comprehensive assistance to Kyiv.
"Canada continues to stand by Ukraine and remains engaged with international partners on Ukraine's needs," Serieux stressed.
Meanwhile, the EU and its member states have provided more than €231 billion in support since the beginning of Russia's full-scale invasion. This includes military assistance, budgetary support and guarantees, aid for Ukrainians who have found refuge in Europe and proceeds from frozen Russian assets. One senior EU diplomat described the total as already "over and above".
Brussels is preparing to negotiate closer defence and trade ties with both countries. Canada will participate in the EU's SAFE joint defence procurement programme, giving Canadian businesses access to EU contracts.
Although support for Ukraine will influence the atmosphere of these talks, officials insist that the EU will "won't be pulling a Trump" by directly linking trade preferences to the size of financial contributions.
The EU is also seeking increased funding from Japan, which European officials believe is falling behind in its contributions for 2026. Tokyo says it has already provided more than US$20 billion in assistance but is open to discussions if Ukraine makes direct requests.
Australia, meanwhile, which recently announced new support packages during the UN General Assembly, has not yet received any formal requests concerning funding for 2027.
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