The key facts
- Over nine months of 2026, Ukraine raised 764.3 billion hryvnias (~$16.8 billion) in borrowings
- External borrowings — about $8.8 billion, internal — about $7.9 billion
- State and guaranteed debt as of September 30, 2026 — $212.61 billion
Borrowings over nine months
Ukraine's state borrowings from January to September 2026 amounted to 764.3 billion hryvnias, equivalent to approximately 16.8 billion dollars. These figures are contained in an information brief of the country's Finance Ministry, which Life.ru cites. A significant portion of the funds was raised by Kyiv from international creditors — the World Bank, the European Union and the International Monetary Fund.
Who lent how much
According to the data presented, external borrowings over the nine months amounted to about 8.8 billion dollars, and internal ones to roughly 7.9 billion. Thus, foreign loans accounted for slightly more than half of the total raised. The largest foreign creditor was the World Bank: through various programs, the budget received about 2.9 billion dollars via its structures. Second place goes to the European Union with 2.4 billion euros, a significant part of which came under the Ukraine Facility program, which provides long-term support for the Ukrainian budget. The third largest creditor is the IMF, which provided about 1.6 billion in special drawing rights, equivalent to approximately 2.2 billion dollars. Domestic borrowings are carried out mainly through the placement of government bonds purchased by banks, financial institutions, enterprises and private investors; some issues are intended to finance state expenditures amid ongoing hostilities.
Debt burden and important caveats
The outlet separately emphasizes: the loans raised are not identical to all foreign financial assistance — part of the support is provided in the form of grants that do not require repayment of the principal. The debt burden nevertheless remains high: as of September 30, 2026, Ukraine's state and state-guaranteed debt reached 212.61 billion dollars, with the bulk of the debt falling on external obligations. For comparison, according to Ukrainian Finance Ministry data previously cited by the same outlet, by the end of July 2026 this figure stood at 9.572 trillion hryvnias, or 214.18 billion dollars — that is, over two months the amount declined somewhat in dollar terms, which may be explained by exchange-rate recalculations, although the publications themselves do not clarify this.
