Finance Minister Serhiy Marchenko on Saturday, September 20, in Copenhagen held a series of meetings with finance and economy ministers of the G7 and EU countries, representatives of the European Commission and the IMF, at which they discussed the state of the financial system of Ukraine, budget needs for 2026 and new mechanisms of budget support for Ukraine. This is reported by Dengi.ua with reference to press service of the government.
Serhiy Marchenko noted that over the past three and a half years Ukraine had received more than 145bn dollars of international financial assistance, which allowed it to maintain macro-financial stability in the conditions of a full-scale war and to guarantee all necessary social expenditures. At the same time, given that the war continues, challenges for the financial system remain and the continuation of external support is extremely important.
The minister said that more than 30.6 billion dollars of external financing has already been attracted in 2025 alone, while the need for the current year is 39.3 billion dollars. To cover social expenditures, Ukraine counts on the assistance of international partners and conducts an active dialog with key partners - the IMF, the EU and the G7 countries.
In addition, within the framework of bilateral meetings, the Minister of Finance of Ukraine discussed with his colleagues options for additional financial support for Ukraine, in particular, the possibility of implementing the recently presented initiative of the European Commission on the Reparation Credit under the guarantees of frozen Russian assets.
"Revenues from frozen Russian assets already allow us to ensure priority expenditures of the state budget. Thus, within the framework of the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative of $50 billion, launched in 2024. Ukraine has already received about 23 billion dollars from partners," the statement reads.
Serhiy Marchenko also noted the support of the governments of Canada and the EU for the relevant initiative. In particular, Canada's contribution to the ERA is 5 billion Canadian dollars (about 3.4 billion dollars), the EU - 18.1 billion euros (about 20 billion dollars).
In addition, the Ukrainian government continues to work on introducing the necessary reforms to implement the Ukraine Facility financial instrument from the EU for 2024-2027 in the amount of 50 billion euros, which is one of the mechanisms of budget support. To date, more than 22.6 billion euros have already been attracted under the Ukraine Facility.
In addition, the meetings discussed tougher sanctions against Russia, investments in the Ukrainian defense industry and the possibility of creating a new cooperation program with the International Monetary Fund by the end of the year.