Ukraine to receive EUR 1B grant from Germany - finance ministry

Ukraine to receive EUR 1B grant from Germany - finance ministry

Minister of Finance Serhiy Marchenko of Ukraine and his German counterpart Christian Lindner have signed an Agreement between the two governments on providing Ukraine with EUR 1 billion in grant funding.

This was reported by the press service of Ukraine’s finance ministry, Ukrinform reports.

"The funds will be directed to the state budget of Ukraine to finance priority social and humanitarian expenditures amid martial law," the statement reads.

It is noted that the funds will be sent to Ukraine through the mechanism of the International Monetary Fund’s Administered Account.

Read also: Scholz calls on world to keep up pressure on Russia

According to Serhiy Marchenko, the grant is seen as an extremely important contribution to support Ukraine.

Ukraine has reportedly received more than $6 billion in foreign aid in the form of grants and loans since the start of the full-scale war. In particular, Ukraine received long-term soft loans from the German government amounting to a total of EUR 300 million to finance the state budget.

Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2022 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period: