13 July 2024, Saturday, 15:51
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Ukraine To Receive €3.4 Billion Aid This Summer

Ukraine To Receive €3.4 Billion Aid This Summer

Also from frozen Russian assets.

The European Union will transfer more financial aid to Ukraine in summer. As hromadske.ua writes, this was announced by the President of the European Commission Ursula von der Leyen at the opening ceremony of the Ukraine Recovery Conference 2024 in Berlin.

Thus, 1.5 billion in proceeds from frozen Russian assets will become available in July. Of this amount, 10% will go to reconstruction and restoration, and a “large percentage” will go to defense.

This week, the G7 meeting will also discuss how Ukraine can benefit more from frozen Russian assets.

In addition, 1.9 billion euros will be received in June under the Ukraine Facility program. This program ensures the provision of 50 billion euros to Ukraine during 2024-2027. Of this amount, 39 billion euros will be sent to the state budget to strengthen macro-financial stability. The rest is a special investment instrument to cover risks in priority sectors, cover interest on loans, etc.

On June 11, as part of the conference in Berlin, an agreement for 1.5 billion euros will also be signed with partner banks to encourage investment in Ukraine from the private sector. Ursula von der Leyen announced that partner banks will be able to apply for budget support from the EU if they actively invest in Ukraine.

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