Kyiv asked for the money earlier, the European Union refused
The European Union has rejected Ukraine's request to release a portion of a 90 billion euro loan ahead of schedule. Kyiv intended to use these funds to cover a budget shortfall for military expenditures in 2026. Brussels, however, believes that such a step would not solve the problem, but merely postpone it to the following year.
Kyiv asked for the funds earlier, but the European Union did not agree
According to DW, the Bloomberg agency reported on October 1, citing sources familiar with the situation, that the European Union did not grant Ukraine's request to receive credit funds sooner.
This refers to the early allocation of a portion of a loan totaling 90 billion euros. There have been no reports of the loan being canceled.
Increased military spending created an additional deficit
According to Bloomberg, Kyiv reported that it faced an additional financing deficit of 27 billion euros in the summer due to increased military spending. Ukraine asked to receive a portion of the loan earlier to cover this shortfall this year.
However, the agency's sources said that Brussels believes accelerating the allocation of funds now would not solve the problem, but rather push it to 2027.
For this reason, European officials have approached other partners of Ukraine, including Canada, Norway, and Japan, with a proposal to provide additional assistance.
According to the plan, the European Union loan is expected to cover two-thirds of Ukraine's financial needs, with the remainder to be provided by non-EU countries.
45 billion euros will be allocated starting next year
Bloomberg specified that the 45 billion euro portion of the loan intended for 2027 will be allocated on an expedited basis. However, this process will not take place before the beginning of next year.
Currently, the European Union and Ukraine intend to start working on identifying additional budget and defense needs.
37 billion euros in aid is tied to reforms
In September, European Commission President Ursula von der Leyen met with Volodymyr Zelenskyy in New York on the sidelines of the UN General Assembly.
During the meeting, she stated that the European Union has another 37 billion euros intended to support Ukraine's budget for 2026. However, the allocation of these funds is directly tied to reforms that Kyiv must implement.