The government has defined the rules for the selection of foreign creditors

Оновлена процедура стосується залучення кредитного фінансування для priority public investment projects.

One of the key innovations was the definition of clear criteria by which foreign banks and other financial institutions will be selected. It is about finding the most beneficial financing for the state interest rates and other lending conditions.

This approach should make it possible to compare the offers of potential creditors and to choose conditions taking into account the cost of raising funds for the state.

The new rules cover the entire credit cycle

The mechanism regulates not only direct borrowing. It covers the entire process of working with credit resources — from the agreement of key financing parameters to the transfer of funds to the final recipients.

In particular, it is about determining the loan amount, interest rate, repayment terms and other terms of the loan. The procedure for further movement of funds and control over their use is provided separately.

Thus, the state gets a unified approach to work with loans that are raised for the implementation of public investments.

Credit funds will also be used for defense projects

The new procedure will also apply to financing projects related to strengthening Ukraine's defense capabilities.

This corresponds to the current structure of external credit financing. According to the government, the state budget for 2026 provided for UAH 115.2 billion of credit resources from international financial organizations and foreign governments for 41 projects. At the same time, the largest part — UAH 76.6 billion — fell precisely on the defense industry.

Foreign lending is also used for transport, housing, medical, energy and educational projects.

More than UAH 116 billion is planned for public investments in 2027

The update of the rules takes place against the background of the formation of a new portfolio of state investments. In the project of the state budget on In 2027, UAH 116 billion is planned for public investment projects and programs.

From this amount UAH 76.4 billion should be funds raised by international financial organizations and governments of other countries. This means that external financing remains one of the key sources of implementation of large-scale state projects.

Ukraine has already formed long-term investment priorities

In June, the government approved Medium-term plan of priority public investments for 2027-2029 total volume UAH 270.9 billion.

The document covers 18 priority industries, 44 subsectors and 67 main directions state investment. Energy efficiency, digitalization, response to climate change, gender equality and barrier-free accessibility are among the cross-cutting priorities.

This plan should become the basis for the selection of projects that will apply for state and external funding in the medium term.

Unified approaches to selection are being introduced for investment projects

Separately, in September, the Ministry of Finance approved methodological recommendations that help determine whether a specific initiative is a public investment project.

During the assessment is taken into account socio-economic need, compliance with strategic priorities, long-term effect, availability of alternatives, future operating costs and the ability to implement the project. This should help to separate large-scale investment projects from ordinary capital expenditures already at the planning stage.

Why foreign credit control is becoming more important

For Ukraine, foreign loans are not only a source of financing reconstruction, but also one of the mechanisms for supporting the defense and infrastructure sectors. At the same time, loans must be repaid, so the cost of the loan, the repayment period and other conditions directly affect the future debt burden of the state.

The updated procedure should create a more structured mechanism for selecting creditors and supporting loans. Against the background of Ukraine's significant need for external financing, this allows us to connect cost of borrowing, prioritization of projects and control over the use of funds in a single system.