The EU will provide Ukraine with €4.5B by the end of the year, while Ukraine hopes for another $2.3B from the US.

The EU has become Ukraine’s largest donor in 2023, with €13.5B already allocated as part of a macro-financial aid instrument, and expects to provide additional funding for the Ukrainian budget by the end of the year, European Economic Commissioner Paolo Gentiloni said.

He noted that Ukraine has demonstrated the ability to continue to carry out critical economic reforms, recalling that the current terms of EU financial assistance include, among other things, judicial reform, improved regulation of economic activity, and improvement of the bankruptcy regime.

At the same time, Prime Minister Denys Shmyhal announced that Ukraine, which since the beginning of this year has received $10.9B in state budget funding from the US in the form of grants, expects to increase this amount to $13.2B by the end of this year. He notes that this year’s budget deficit remains at 20% of GDP.