Demand for government bonds from Ukrainians and businesses continues to grow. In February 2026, investments in domestic government bonds (OVDP) by legal entities were 17.9% higher than in February 2025, while investments by individuals increased by more than 50% year-on-year. Currently, Ukrainian citizens hold over UAH 121.85 billion in government securities, and legal entities hold more than UAH 219.93 billion.
In February, the Ministry of Finance held 12 OVDP auctions and raised UAH 56.7 billion equivalent for the state budget. The weighted average yield stood at 14.3% per annum in hryvnia, 3.14% in US dollars, and 3.8% in euros.
As of February 27, 2026, government bonds worth more than UAH 2.08 trillion are in circulation. The largest share of the portfolio is held by commercial banks (47.86%), followed by the National Bank of Ukraine (33.09%). Other investors account for the following shares: legal entities — 10.95%, individuals — 6.07%, insurance companies — 1.19%, non-residents — 0.81%, and territorial communities — 0.02%.
In addition, in February the Ministry of Finance conducted a switch auction of OVDP. Market demand reached UAH 10 billion. Investors were offered an exchange of bonds maturing on March 18, 2026, for bonds maturing on March 7, 2029 (with a circulation period of nearly three years). As a result, the shorter-term bonds were canceled, helping to reduce the debt burden on this year’s state budget.
Last month, more than UAH 46 billion was directed to the state budget through OVDP auctions. In 2025, the total amounted to about UAH 570 billion. Since the start of the full-scale invasion, more than UAH 2.1 trillion has been raised through domestic borrowing.
Amid the full-scale war, the domestic OVDP market remains the second-largest source of state budget financing after external borrowing. In 2026, the Ministry of Finance plans to raise up to UAH 420 billion through OVDP.
Anyone can purchase bonds via the Diia app, at banks, or through brokers. The nominal value of one bond is UAH 1,000, USD 1,000, or EUR 1,000.
In the Diia app, this can be done in just a few minutes: under the “Services” section, select “War Bonds,” choose a bond type named after Ukrainian cities or territories, select a bank or broker, fill in contact details, sign the documents, and make the payment.
