Ukraine and the European Union announced on Thursday that they had "identified" the means to meet Ukraine's budgetary and defense needs for 2026, according to a joint statement. The statement did not provide further details but indicated that both sides had agreed on the format, calendar, and steps necessary to ensure full coverage for 2026 and 2027. Ukrainian President Volodymyr Zelensky confirmed this on the social media platform X. The EU has granted Ukraine a loan of 90 billion euros to help finance its war against Russia in 2026 and 2027. Despite this financial support, Ukraine estimated its budget deficit for 2026 at 20 billion dollars. As of late September, Ukraine reported a funding gap of 27 billion dollars for its military expenditures in 2026 alone. Kiev plans to absorb 7 billion dollars through savings, reallocations, and deferred spending, but still needs to find an additional 20 billion dollars from its foreign partners. The European Commission emphasized the need for Ukraine to continue its reforms in order for Brussels to release the remaining funds due for 2026, refusing to commit to additional amounts. European Commissioner for Enlargement Marta Kos stated, "Our message to our Ukrainian friends is clear: implement the agreed-upon reforms so that we can continue to provide you with financial support." Ukraine's funding needs, including budget and military expenditures, have been estimated at 135 billion euros for 2026 and 2027. In addition to the 90 billion euros committed by the EU, other allied countries of Ukraine were also expected to contribute 45 billion euros. However, their contribution is still far from sufficient, acknowledged the European Commission. "All parties have agreed that other partners should also honor their financial commitments and intensify their efforts in light of the major challenges Ukraine is facing," stated the EU and Ukraine joint statement. Kiev and Brussels assured on Thursday that they were ready to "move quickly" next year with the disbursement of the 45 billion euros planned under the EU's two-year loan. They also agreed to begin "working on the identification of additional budgetary and defense needs" for 2027.