Ukraine risks losing €5.2 billion ($6 billion) in EU financial support in 2025 after failing to deliver on its reform commitments under the Ukraine Plan, according to a new monitoring report.
As of late October, Ukraine has not fulfilled nine indicators for the first three quarters of 2025 and has yet to publish its second-quarter progress report, a delay that automatically postpones the release of subsequent EU funding tranches.
The findings come from the report “Monitoring the Implementation of the IMF Program and EU Assistance, October 2025,” organized by the Resilience, Reconstruction and Relief for Ukraine (RR4U) consortium. The document tracks Ukraine’s progress under the IMF program and the Ukraine Plan, the framework that conditions EU budget financing on reform performance
Under the Ukraine Plan, Kyiv can postpone implementation of structural benchmarks for up to 12 months. However, if the government fails to meet Q1 2025 indicators by the end of Q1 2026, the associated EU funds will be lost permanently.
In the fourth quarter of 2025, Ukraine must complete 20 reform indicators, eight of which require parliamentary approval. These reforms are tied to €2.2 billion ($2.55 billion) in EU funding. Failure to deliver them could bring the total shortfall for 2025 to €5.2 billion ($6 billion) – about Hr. 250 billion.
The report urges the government and parliament to accelerate decision-making, stressing that each unfulfilled benchmark represents not only reputational damage but also “real money” missing from the state budget.
The RRR4U consortium unites several leading Ukrainian think tanks and NGOs, including the Institute for Economic Research (IER), Dixi Group, the Institute of Analytics and Advocacy, and the Centre for Economic Strategy (CES).