Home Business News Ukraine received a record breaking $4.6bn in foreign aid

Ukraine received a record breaking $4.6bn in foreign aid

by LLB Finance Reporter
31st Aug 22 9:07 am

A total of $3bn in grant funds recently provided by the US via the World Bank and there was an increased total foreign assistance in August amounting to a record breaking $4.6bn.

The Ukrainian Minister of Finance Serhiy Marchenko has said this was a monthly record since the start of the war on 24 February.

“We also expect to receive $1.5bn in grant assistance from the United States in September – this is the last tranche, and we also expect to receive macro-financial assistance (MFA) from the EU in September and early October [out of €9bn, €1bn has been allocated so far].”

The German Finance Minister Christian Lindner, said that Marchenko recalled that he had expected a visit in July or early August, but it would be good if it took place in September.

Marchenko recalled that Lindner believes that EU MFA to Ukraine should be more of a grant nature than a loan, which contradicts the current mechanism for allocating MFA.

Marchenko said, “For us, it’s not a matter of principle a grant or a loan, as it is allocated for a long-term period on preferential terms.

“It’s important for us to close the issue of liquidity.”

The Ministry of Finance initially expected $6bn in August and a further $4.7bn in September, compared to $1.7bn they received in July and $4.4bn in June.

Marchenko added that by the end of the year, Ukraine expects to reach about $30bn in foreign assistance, which about $17bn has already been received.

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