The European Union (EU) provides substantial financial support through loans and grants to its members, candidate countries, and those within its neighbourhood policy framework, with a growing emphasis on energy and climate initiatives. Ukraine’s new status as a candidate country might provide access to additional funds such as the Instrument for Pre-Accession (IPA). Nevertheless, facing the twin challenges of post-war reconstruction and “catching up” with investment in green energy and industrial projects under the EU Green Deal is likely to result in significant additional financing needs.