German Development Bank allocates over EUR 1.4 billion for Ukraine
Illustrative photo (Getty Images)
The German Development Bank KfW will support Ukraine on behalf of the German government and the EU. The bank is implementing over 40 projects totaling more than 1.4 billion euros, according to BR24.
In particular, 520 million euros have been allocated to the energy sector, as power lines, substations, and power plants are constantly under Russian attack. Therefore, continuous repair work is necessary.
Over 530 million euros will be directed towards housing programs and social services for internally displaced persons and host communities.
KfW is also strengthening basic municipal infrastructure, allocating around 135 million euros for the repair and modernization of medical centers, schools, and drinking water pipelines.
Since the start of Russia's full-scale invasion, KfW has provided over 1.2 billion euros, mostly to support government functions.
Germany's aid to Ukraine
Germany has become one of the countries aiding Ukraine by providing military, political, and financial support. Berlin has supplied various artillery pieces, Leopard tanks of older and newer modifications, IRIS-T and Patriot air defense systems, ammunition, vehicles, drones, and other types of weaponry.
Moreover, Germany has announced that it will double its military assistance to Ukraine to 8 billion euros in 2024.
Chancellor of Germany Olaf Scholz has also assisted Ukraine in matters of European integration.
Recently, Scholz announced that Germany is providing Ukraine with a new package of military assistance, including howitzers, anti-aircraft guns, and missiles for air defense systems.
