European Commissioner for Economy Valdis Dombrovskis has urged the G7 to accelerate disbursements under the $50 billion loan for Ukraine. His statement comes amid reports that Belgium continues to block the financing scheme based on the use of frozen Russian assets.
According to him, countries must speed up payments to Ukraine under the G7 loan agreed in June last year in order to cover the financial gap at the beginning of next year.
“We are in discussions with other international donors to see whether their support can be brought forward to the beginning of the year,” the Commissioner said.
He noted that the group of donors includes the United Kingdom, Canada, Japan, and the United States.
Dombrovskis believes this could be enough to cover Ukraine’s financial needs in the first quarter of next year, although “that remains to be seen.”
The EU has already disbursed its share of the G7 loan, amounting to €18.1 billion, according to media reports. However, roughly €14 billion from the package has yet to be disbursed by the US, Canada, Japan, and the UK.
In the first quarter of 2026, Ukraine is expected to face a budget deficit of $12 billion.
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