financing

The European Union has rejected Ukraine’s request to bring forward funding planned for 2027, instead urging Kyiv to complete reforms that could unlock about €34 billion in EU support this year, the Financial Times reported.

EU member states have agreed on the terms for releasing €6.6 billion ($7.8 billion) from the European Peace Facility to support Ukraine, EU foreign policy chief Kaja Kallas said.

Ukraine’s government has approved its draft 2027 state budget, allocating UAH 4.89 trillion (about $109.6 billion at the current official exchange rate) to defense and security as the country prepares for another year of war.