Martin urges EU to move quickly on Ukraine’s 2027 funding
Irish Prime Minister Micheál Martin says an EU loan is the most effective way to help finance Ukraine in 2027, as EU leaders prepare a proposal on covering the country’s projected budget shortfall.
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Irish Prime Minister Micheál Martin has urged the EU to take a pragmatic approach to financing Ukraine in 2027, saying an EU loan would be the most effective option and warning against lengthy negotiations.
Ukraine needs an additional €70 billion next year to plug a budget gap, according to the report. European Council president António Costa said the EU would cover about two-thirds, or roughly €45 billion. European Commission president Ursula von der Leyen said the Commission would present a funding proposal ahead of an EU summit at the end of November.
Martin made his comments before an informal EU leaders’ summit in Dublin. Ireland holds the rotating presidency of the Council of the EU until 1 January.
A €90 billion loan for Ukraine was agreed last December after prolonged discussions, including over the possible use of frozen Russian assets. “In my view, we cannot afford to lose so much time again,” Martin said.
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