EU to press Canada and UK to help cover Ukraine's €70 billion 2027 funding gap

The European Union is preparing to press Canada and the United Kingdom to significantly increase their financial support for Ukraine to help cover a projected €70 billion funding gap Kyiv will face in 2027, Politico reported on 21 October, citing five EU and European Commission officials and diplomats.

Brussels intends to raise the issue at the EU–Canada summit on 29–30 October and the EU–UK summit on 20 November, with EU ambassadors due to discuss preparations and Ukraine’s funding needs on 22 October.

The EU has allocated a €90 billion loan to Kyiv for 2026–2027, expected to cover around two-thirds of Ukraine’s needs. A further €45 billion expected from Canada, Japan, South Korea, Australia and Norway is arriving slowly, while Kyiv’s projected spending is rising as Russian attacks intensify.

European officials stressed the push is not intended as a criticism of London or Ottawa, both longstanding supporters of Kyiv. “We urgently need other partners to step up,” European Commission President Ursula von der Leyen said on 16 October.

The UK has provided £25 billion in support for Ukraine, while Canada has allocated nearly C$26 billion, according to a spokesperson for Canada’s Privy Council Office. The EU and its member states have provided more than €231 billion since the beginning of Russia’s full-scale invasion.

Brussels has already raised Ukraine’s 2027 funding needs at meetings of the International Monetary Fund, the G7 and the G20, and with countries of the Gulf Cooperation Council.