Ukraine looks to international partners to cover growing financing needs

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Editor's note: this story was translated from the original VOA Ukrainian article. More than 40 leaders of European countries gathered in Ireland for a summit Thursday, with…

Editor's note: this story was translated from the original VOA Ukrainian article.

More than 40 leaders of European countries gathered in Ireland for a summit Thursday, with discussions centering around European security and the need to support Ukraine amid increased attacks by Russia on its infrastructure and businesses.

Funding for Ukraine was a top issue in Europe in the run up to the two-day European Pollical Community and the informal European Council summit. German Chancellor Friedrich Merz urged the European Union to find the money to meet request from President Volodymyr Zelenskyy of Ukraine for an additional $77 billion for the next year.

In his letter to European Council President António Costa, earlier this week, Merz called the new aid an "essential prerequisite" for approving the next EU budget. The content of the letter was first reported by the Financial Times.

The leaders of Slovakia, the Czech Republic, Hungary and Bulgaria have already voiced their opposition to linking approval of the EU’s budget to any new funding for Ukraine, which may delay the approval of the money.

Following the meeting with Zelenskyy on Thursday, European Commission President Ursula von der Leyen assured the Ukrainian leader of the EU's support, covering immediate survival this winter and funds needed through 2027. She announced the European Council will review the Commission's proposal for Ukraine's financing needs by the end of the month.

To alleviate immediate financial pressure, Ukraine hopes to obtain $1.67 billion in fresh funding from the International Monetary Fund by the end of the year. IMF's Director of the Communications Department, Julie Kozack told reporters on October 29 that the money will be released once the IMF completes assessment of its program in Ukraine. The IMF has started the review of the program for Ukraine on Monday.

The U.S., as the most powerful member of the IMF, supports the current Fund's program for Ukraine, Treasury Secretary Scott Bessent…

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