War Economy: Ukraine received 500 million euros from the EU

The funds will be directed to the funding of current expenditures of the state, in particular in the social and humanitarian spheres. On Wednesday, September 28, the European Union transferred 500 million euros of grant funds to the Government of Ukraine within the limits of the state-signed contract on the development of the state and strengthening stability-III. The press service of the Ministry of Finance reports. The money was transferred to the general fund of the state budget.

The funds will be directed to the funding of current expenditures of the state, in particular in the social and humanitarian spheres. Some of the money will also be transferred to the food security and increased economic stability of the country by ensuring uninterrupted production of agricultural and food products, in particular by ensuring access of small farms to working capital. Recall that the IMF recently decided to allocate $ 1. 4 billion to support the economy in a war with Russia.

The National Bank of Ukraine expects that by the end of 2022 the accounts will receive $ 15-20 billion of loans. In addition, the European Investment Bank (EIB) paid Ukraine 500 million euros of immediate assistance for urgent needs. This is the first transaction within the emergency package of solidarity for Ukraine worth € 1. 59 billion.