The situation with international financing for Ukraine in 2025 has looked fairly comfortable, but for 2026-2027 a gap has remained that needs to be closed.

Source: Serhii Nikolaychuk, First Deputy Governor of the National Bank of Ukraine (NBU), in an interview with Interfax-Ukraine

Details: According to NBU estimates, only about one-third of the required US$65 billion currently has confirmed sources of financing. 

Quote: "According to our estimates, the amount of funds that does not have confirmed sources of financing for 2026-2027 currently amounts to about two-thirds of this sum. There is a financing gap for next year and an even larger gap for 2027."

More details:Nikolaychuk specified that the NBU is pencilling in a slightly larger need for external financing than the government for 2026-2027: US$35 billion in 2026 and US$30 billion in 2027, and this amount does not include the buffer planned to be formed this year from funds arriving via the ERA mechanism – from frozen Russian assets.

Background: On 18 August, Ukraine's Finance Minister Serhii Marchenko estimated the funding gap for 2026-2027 that is not covered by confirmed sources at US$37 billion.

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