Achieving a peace agreement that will be fair and long-term will allow for an increased focus on financing reconstruction, European Commissioner for Economy and Productivity Valdis Dombrovskis said.

Following his visit to Kyiv, at a press conference on Thursday, he told reporters the EU officials will need to discuss it with the Ukrainian authorities and adjust their funding from international donors. He added that one of the main assumptions in this assessment of funding needs is always the question of how long the war lasts, what is the intensity, and so on.

Dombrovskis said the EU, for its part, is ready to adjust its funding both in the context of, for example, a reduction in the U.S. military aid, and in the context of progress in a ceasefire or a peace agreement.

He recalled that currently the EU's Ukraine Facility support program for Ukraine is designed until 2027, the ERA loan initiative from G7 partners at the expense of frozen Russian funds – for part of 2026.

The European Commissioner also said the EU will need to see whether additional funding will be needed and how much; as usually this process is organized in such a way that the IMF has to assess the financing needs for Ukraine, and then international donors work on how the EU covers these financing needs.

According to him, this program usually starts somewhere in the middle of the year, because, obviously, all this is surrounded by very high uncertainty.