Zelensky seeks more foreign funding to cover Ukraine's military spending
Ukrainian President Volodymyr Zelensky said on Friday that Kiev needed additional funding from foreign partners to cover a military spending shortfall following higher-than-expected expenses in the first half of the year.
"The volume is serious. In the first half of the year, there were significantly more expenses. This is a new challenge. Now we need to find the necessary additional finances," Zelensky said in Kiev.
He said the government and parliament would work with Ukraine's international partners to secure the necessary funds.
In June, Ukraine's parliament approved an additional 1.56 trillion hryvnias for security and defence, bringing planned spending in the sector to 4.367 trillion hryvnias for 2026. The Finance Ministry said EU support would help finance the increase.
The EU has agreed a €90 billion loan package for Ukraine covering 2026 and 2027, with an indicative €60 billion earmarked for defence and €30 billion for economic support. So far, €11.6 billion has been disbursed.
RECOMMENDED FOR YOU
Police Officer's split-second flood rescue saves woman in China
The IMF also approved a new four-year programme for Ukraine in February, releasing about $1.5 billion immediately and a further $690 million in July.
This story is written and edited by the Global South World team, you can contact us here.
