Ukraine’s International Financial Support for 2026–2027: Promises from Partners and Emerging Challenges

Amidst a stable financial outlook for Ukraine in 2025, supported by confirmed sources and clear funding channels, the country faces new hurdles in planning for the upcoming years.
First Deputy Governor of the National Bank of Ukraine, Serhiy Nikolaichuk, in an interview with Interfax-Ukraine, provided a detailed overview of the current state of international aid and prospects for raising funds for 2026 and 2027.According to his assessment, only about thirty percent of the needed $65 billion has confirmed funding sources at this time.
This indicates that the remaining roughly two-thirds are still uncertain and require further clarification and effort.
An important aspect is the substantial funding gap projected for the coming years, which complicates budget planning and financial stability.Nikolaichuk explained that the NBU’s projections outline a slightly higher requirement for external funding compared to the government—$35 billion in 2026 and $30 billion in 2027.
These figures do not account for reserves planned to be accumulated from ERA mechanism funds, which are derived from frozen Russian assets.
Ukraine is actively working to mobilize these resources to fill budget gaps.Given the high security risks and significant defense expenditures, Nikolaichuk noted that the upcoming ninth review of the IMF Extended Fund Facility program in 2026 could face complications.
Therefore, it would be more prudent for Ukraine to negotiate a longer-term agreement with the IMF to ensure stable support and better planning opportunities for the future.