Ukrainian PM reveals financial assistance Ukraine expects to receive from its partners this year
Photo: Prime Minister of Ukraine Denys Shmyhal (kmu.gov.ua)
This year, Ukraine expects to receive another $4.5 billion in budget support from the International Monetary Fund (IMF), €16 billion from the European Union and $8 billion from the United States, according to Prime Minister of Ukraine Denys Shmyhal.
"Yesterday we met with IMF representatives. This year, we have already received $880 million from the Fund, and we expect to receive another $4.5 billion in budget support for 2024," Shmyhal said.
He also reminded that this week, Ukraine and the EU signed a Framework Agreement on financing from the European Union under the Ukraine Facility. The planned funding for this year under the program is €16 billion.
In addition, Ukraine expects to receive almost $8 billion in budget support from the United States this year.
"But it is necessary to understand that the funds of our partners can only be used for non-military purposes. That means the government finances the defense campaign using taxpayer money as well as military bonds," the Prime Minister noted.
Since the beginning of the year, the Government has already allocated over UAH 500 billion for the country's defense.
According to Shmyhal, every hryvnia of taxpayers' money that goes to the budget is spent by the government on weapons, drones, equipment, and salaries for the military.
Ukraine Facility
In February, EU leaders agreed on a four-year $50 billion aid package for Ukraine during a summit in Brussels. Later, the European Parliament supported the decision to launch the Ukraine Facility.
On May 22, Ukraine and the EU signed a Framework Agreement on financing under the Ukraine Facility.
Meanwhile, International Monetary Fund (IMF) Managing Director Kristalina Georgieva said that Ukraine needs $42 billion in budget support this year as it continues to fight against Russian invasion.
