The European Union calls on G7 countries to accelerate payments under a loan program for Ukraine worth around €45 billion. The mechanism aims to cover part of Kyiv’s budget needs in 2026–2027.
Euractiv reports this, citing informed European officials.
EU asks G7 to accelerate loan disbursements
According to the report, the European Commission urges G7 partners to advance their contributions under the ERA loan scheme.
European Commissioner for Economy Valdis Dombrovskis plans to discuss faster financing during his visit to Washington. He will meet officials from the United States, the United Kingdom, and Japan to explore options for accelerating payments.
He is also expected to hold talks with US Treasury Secretary Scott Bessent and Ukrainian Finance Minister Serhii Marchenko.
How the ERA mechanism works
The ERA loan program provides up to $50 billion in funding for Ukraine, repaid through profits from frozen Russian sovereign assets.
Under the current implementation:
- the EU has fully disbursed its €18.1 billion share;
- about €7 billion remains unpaid by other partners;
- the United States, the United Kingdom, and Japan have not yet completed their contributions.
Why the funding is being accelerated
The European Commission estimates Ukraine will need around €135 billion in budgetary and military support for 2026–2027. The ERA mechanism is expected to cover part of this gap.
However, only about €15 billion is currently secured, pushing Brussels to intensify efforts to mobilize international partners.
Context
The EU also faces difficulties in approving a separate €90 billion loan for Ukraine due to internal political divisions, including Hungary’s position. However, incoming prime minister Péter Magyar has said he would unblock the funding.
Earlier, The Ukrainian Review reported that the Baltic and Nordic countries are considering providing Ukraine with around €30 billion in bilateral loans if Hungary and Slovakia continue to block the EU-wide €90 billion package.
