Sergii Marchenko met with the newly appointed German Ambassador to Ukraine Heiko Thoms

On September 29 in Kyiv, Minister of Finance of Ukraine Sergii Marchenko met with the newly appointed Ambassador Extraordinary and Plenipotentiary of the Federal Republic of Germany to Ukraine, Heiko Thoms.

Sergii Marchenko congratulated the Ambassador on his recent appointment.

The meeting was also attended by Deputy Minister of Finance Olga Zykova and  Government Commissioner for Public Debt Management Yuriy Butsa.

The parties discussed the state of Ukraine’s financial system, budget needs for 2026-2027, and the expansion of German business presence in Ukraine.

“I am grateful to Germany for its consistent support of Ukraine since the first days of the full-scale war - in the financial, military, and humanitarian spheres, as well as in advancing key initiatives within the EU. Particularly valuable is Germany’s assurance of continuing comprehensive support for Ukraine, including budgetary support within EU initiatives. I am confident that your experience will ensure even more productive cooperation between our countries,” emphasized Sergii Marchenko.

The Minister of Finance presented Ambassador Thoms with the key indicators of Ukraine’s draft budget for next year. The absolute priority under conditions of full-scale war remains spending on security and defense - over 60% of the budget.

The parties also discussed attracting international financing to cover Ukraine’s social and humanitarian expenditures. Active communication is currently underway with key partners to secure the necessary funding for 2026 and the following years.

Over the past three and a half years, Ukraine has received more than USD 145 billion in international financial assistance. In 2025 alone, over USD 30.6 billion in external financing has already been mobilized out of the USD 39.3 billion needed for the current year. Ukraine has received assurances of the full financing volume for this year.

Sergii Marchenko thanked Germany for supporting the implementation of the EU’s Ukraine Facility, which has already brought EUR 22.6 billion to the State Budget, and the ERA mechanism (funded by revenues from frozen russian assets) — EUR 10 billion of which the EU has already directed to Ukraine.

The meeting participants also considered the possibility of implementing in the near future the European Commission’s proposal to provide Ukraine with a Reparations Loan backed by frozen russian assets. The German Ambassador confirmed the full support of this initiative by the German Government.

In addition, the parties discussed Ukraine’s European integration progress and the potential expansion of German business presence in Ukraine. Ukraine and Germany will continue their cooperation on this path.

Germany’s direct budget support to Ukraine during the full-scale war has reached EUR 1.6 billion, of which EUR 1.3 billion are grants.