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Ukraine receives €1.5 bn in EU funds: officials

24.04.2024 16:30
Ukraine has received EUR 1.5 billion in new funds from the European Union, officials said on Wednesday, adding that Kyiv expects a further EUR 10 billion in financial support from the bloc later this year.
Photo:
Photo:EPA/STEPHANIE LECOCQ

Ukrainian Prime Minister Denys Shmyhal said in an X post that he was "glad to announce the allocation of a second tranche of EUR 1.5 billion from the Ukraine Facility Exceptional Bridge Financing, further solidifying our economic stability."

He thanked European Commission President Ursula von der Leyen "for her unwavering support," adding that "this injection strengthens [Ukraine's] economic resilience and stability."

Finance Minister Serhiy Marchenko said the EU, which has provided Ukraine with EUR 31 billion, had become the biggest donor of budget financing to Ukraine since the start of Russia's invasion in February 2022, the Reuters news agency reported.

A day earlier, the US Senate approved over USD 60 billion in new aid for Ukraine, sending a package of bills to the White House for President Joe Biden to sign into law.

"International support is key to ensuring macroeconomic stability and building a foundation for economic growth," Marchenko was quoted as saying on Wednesday.

First Deputy Prime Minister Yulia Svyrydenko said the government looked forward to final approval of the EU's Ukraine Facility lending programme worth EUR 50 billion and hoped to receive three more tranches this year, according to Reuters.

The EU's von der Leyen said on X: "Ukraine is carrying a heavy burden on its shoulders for all of us. Today, we disburse an additional EUR 1.5 billion, under the 50-billion-euro Ukraine Facility. This is vital to keep Ukraine's state and services running, while it fights back the aggressor. Europe remains united and resolute."

Earlier this year, EU leaders unanimously agreed to extend EUR 50 billion in new aid to Ukraine.

European Council President Charles Michel at the time hailed the decision as a promise of "steadfast, long-term, predictable funding for Ukraine."

He added that the EU was "taking leadership and responsibility in support for Ukraine."

Russia invaded Ukraine on February 24, 2022, starting the largest armed conflict in Europe since World War II.

Wednesday is day 791 of Russias war on Ukraine.

(gs)

Source: Reuters, IAR, PAP, ukrinform.net