BANGKOK, Oct 14 (Reuters) - Ukraine faces a funding gap for 2027 and the European Union is trying to raise extra cash for the country at the meetings of the International Monetary Fund and G7 finance ministers this week in Bangkok, European Economic Commissioner Valdis Dombrovskis said.
Ukraine’s 2026 funding is already covered, with some €31 billion from the EU waiting for disbursement as soon as Kyiv votes through the agreed reforms.
But despite another €45 billion ($50 billion) already promised from the EU for 2027, Ukraine’s needs will be much higher and the EU is scrambling to organise the cash from countries such as Norway, Switzerland, Canada, Japan or Britain.
“This is one of the topics being discussed during the IMF and G7 meetings, where we are seeking to mobilise support from other partners,” Dombrovskis told Reuters on the sidelines of the IMF meetings in Bangkok.
“From the beginning, we have emphasised that the European Union aims to cover roughly two-thirds of Ukraine’s financing needs, and we would expect other partners to cover the remainder,” he said.
To gain time for others to chip in, the EU plans to front-load the disbursement of the €45 billion it has for Ukraine next year, but the issue is complicated by the fact that the EU is still working out how much Ukraine will need next year.
“It is worth noting that there is a gap between what a number of NATO member states have pledged in military support for Ukraine and what has actually been delivered. Narrowing that gap would go a substantial way towards addressing Ukraine’s military financing needs,” Dombrovskis said.
Dombrovskis singled out Norway as a positive example of substantial help. “Norway has pledged another €9 billion for next year. It provided a similar amount this year, which is a very substantial sum,” he said.
Asked if others were helping, but not enough, he said:
“To put it bluntly, yes.”
($1 = 0.8937 euros)
(Reporting by Jan Strupczewski; Editing by John Mair)
