In 2025, Ukraine’s Ministry of Finance secured USD 52.4 billion in external financing, more than 70% of which came from revenues generated by frozen russian assets

In 2025, the Ministry of Finance of Ukraine secured USD 52.4 billion in external financing. International support made it possible to fully cover social and humanitarian expenditures, while all domestic financial resources were directed to the security and defense sector.

Donors:

• USD 37.9 billion – ERA Loans (contingent liabilities);
• USD 12.1 billion – EU, Ukraine Facility (USD 11.5 billion – loans, USD 668 million – grants);
• USD 912 million – IMF (loans)
• USD 733 million – World Bank (loans)
• USD 453 million – Japan (loans)
• USD 232 million – CEB (loans)

“USD 52.4 billion is a substantial amount of international financial support, achieved through the strong cooperation of the President of Ukraine, the Prime Minister, the Government, the Ministry of Finance, and our partners. In 2025, these funds allowed us to fully cover key social and humanitarian expenditures: pension payments, salaries of public sector employees, particularly in education and healthcare, social protection programs, and humanitarian initiatives. I sincerely thank all our partners for their effective cooperation, which has helped preserve the country’s financial stability. The challenges remain in the upcoming year, yet we have already achieved significant progress in mobilizing the necessary resources and are confident that priority expenditures will be financed,” said Sergii Marchenko, Minister of Finance of Ukraine.

The largest share of budget support, over 70%, was provided within the G7 ERA Loans mechanism. These are funds repaid from the revenues generated by frozen Russian assets. The total volume of this mechanism is USD 50 billion for 2025–2026. The EU has already fully delivered its share under this instrument – EUR 18.1 billion. The remaining funds will be raised in 2026 to cover next year’s social expenditures.

The European Union continues to be the largest financial donor. In 2025, Ukraine received USD 12.1 billion under the Ukraine Facility, including USD 668 million in grants.

In 2025, Ukraine successfully passed two reviews of the IMF’s Extended Fund Facility (EFF) program, which enabled the disbursement of USD 912 million. In total, USD 10.6 billion has already been provided under the program.

Ukraine and the IMF have also reached a staff-level agreement on a new EFF program for 2026–2029. The agreement foresees USD 8.1 billion (SDR 5.94 billion) in financing. The new program will be submitted to the IMF Executive Board for approval in 2026.

The State Budget also received World Bank funds for projects in healthcare, education, private sector support, and public finance management.

Japan provided USD 453 million to Ukraine through three World Bank projects:

• DRIVE – USD 190 million to strengthen the resilience of the national road network, modernize infrastructure, and restore bridges;
• SURGE – USD 183 million to develop a modern public investment management system during wartime and post-war recovery;
• RISE – USD 80 million to address critical constraints hindering the resilience, growth, and sustainable development of the private sector.

Ukraine also received funding from the Council of Europe Development Bank (CEB) to ensure uninterrupted payments for internally displaced persons (IDPs), including housing, food, healthcare, and children’s education for those forced to flee their homes due to the war.

Since the beginning of the full-scale invasion, international partners have provided nearly USD 168 billion in budgetary support to Ukraine.