EU sends Ukraine €3.8 billion for drone production
Photo: Ukrainian Prime Minister Yulia Svyrydenko (Getty Images)
Ukraine has received an additional 3.8 billion euros from the European Union. This money will be used to fund the Ukrainian military and the defense sector, according to the Prime Minister of Ukraine, Yulia Svyrydenko.
"It will help us meet urgent defense needs, expand the production of Ukrainian drones, strengthen our defense industry, and ensure critical deliveries to the front," she says.
Svyrydenko notes that this tranche was the first purely defense-related aid for Ukraine under the new financial instrument, the Ukraine Support Loan.
The Prime Minister also notes that on June 25, the state budget had already received 3.2 billion euros in financial assistance under the same loan. At that time, the funds were allocated for general budgetary support for Ukraine.
Thus, the total amount of funding that Ukraine has already received under this instrument has reached 7 billion euros.
A meeting of the IMF Executive Board is scheduled to take place by mid-July, at which the next tranche for Ukraine will be approved. According to Svyrydenko, it will amount to $690 million.
On June 25, Ukraine received the first tranche of 3.2 billion euros as part of the European Union’s 90-billion-euro loan program.
Kyiv will receive 3.39 billion dollars from the World Bank, which will be used to support macrofinancial stability and finance the state budget.
