Ukraine needs 3 billion euros a month; Parliament renews call to unlock 90 billion euros in aid

Brussels – The European Union must act swiftly to release the agreement on 90 billion euros in loans to Ukraine. The urgency is set out and emphasised in a working document by the European Parliament, which analyses Ukraine’s immediate and future economic and financial challenges. “Ukraine’s ongoing financing needs during the war total around 3 billion euros per month…to keep the state functioning,” according to the document drafted by the institution’s think tank on behalf of the Committee on Budgets. Hence the warning: “In case this financing is not available from external sources,
the Ukrainian central bank needs to print money, which would fuel inflation and lead to a currency
crisis.” 

For the sake of Ukraine’s economic stability and to avert the risk of contagion to the European economy, it is essential to provide Kyiv with what it needs. From this perspective, the document notes, the European Union appears to be staying the course, since “the EU
financial capacity under the existing and proposed legal framework is comfortably sufficient to
cover all headroom-backed loans between now and the end of 2034.“

However, it is necessary to start releasing the 90 billion euros package, still blocked by Hungary’s vetoes, given Ukraine’s national budget is estimated to face a deficit of around 61–63 billion dollars in 2026 and 2027. Looking ahead, even more substantial financial commitments will be required. As the conflict continues, the costs of repair keep rising: the European Commission and the World Bank, together with the Ukrainian government and the United Nations, have estimated the funding needs for reconstruction and recovery in the decade following the war at 349 billion dollars in June 2022, at 411 billion dollars in March 2023, 486 billion in February 2024, $524 billion in December 2024 and at 588 billion dollars in December 2025.. Costs have therefore almost doubled. 

To date, Team Europe has provided Ukraine with financial, military, and humanitarian support amounting to approximately 193 billion euros. This includes 88.6 billion euros in financial support (repayable and non-repayable) from the EU budget, consisting of macro-financial assistance (43.3 billion euros), the Ukraine Facility (36.7 billion euros), and other EU instruments, as well as loans and guarantees from the EU, the European Investment Bank and the European Bank for Reconstruction and Development (of which the EU is a shareholder).