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Ukraine receives 150 million euros of non-refundable aid from EU

Ukraine receives 150 million euros of non-refundable aid from EU The EU has provided Ukraine with 150 million euros of non-refundable aid (
Author: Maria Kholina

Ukraine has received €150 million in financial assistance on a non-repayable basis from the European Union. The funds are part of the financing agreement for the Support to Ukraine's Fast Recovery (The State and Resilience Building Contract) program, according to the Ministry of Finance press service.

According to Finance Minister Serhii Marchenko, the grant funding will contribute to the restoration of critically important facilities affected by the armed aggression of the Russian Federation. This includes transportation infrastructure, municipal facilities and services, social infrastructure, and housing.

As per the press service, the second tranche of €100 million is expected in the first quarter of 2024. The funds will be directed towards both recovery efforts and support for small farms and other representatives of the agricultural sector.

Aid to Ukraine

Ukraine has already received $39 billion in external financing in 2023. By the end of the current year, donor assistance is expected to reach around $42.3 billion.

The majority of funds were provided by the EU, offering €18 billion in long-term concessional loans and grant funds from the United States exceeding $10 billion.

At the same time, the need for external financing in 2024 has decreased from $41 billion to $37.3 billion due to measures to maximize state budget revenues, activate the domestic borrowing market, and other initiatives.