The Cabinet of Ministers made a decision to attract a grant in the amount of $3.9 billion in grant aid from the United States.
Points of attention
- The United States is offering $3.9 billion in non-refundable aid to Ukraine to support salaries of rescuers, teachers, doctors, and social programs.
- Ukraine expects financial assistance from the EU totaling 4.1 billion euros, in addition to restructuring its foreign debt to save $11.4 billion over the next three years.
- The support from the USA and the EU will help Ukraine improve its social and economic indicators by redirecting funds to key areas such as budget, customs, anti-corruption, and energy sectors.
- The financial assistance from international partners signifies a positive assessment of Ukraine's reforms and economic progress, paving the way for continued cooperation and development.
- Ukraine's collaboration with creditors and international partners demonstrates a commitment to financial stability and growth, positioning the country for future success.
What is known about the provision of US$3.9 billion in grant aid to Ukraine
It is noted that the funds allocated by the USA will be directed to the budget of Ukraine through the structures of the World Bank.
The government will direct this money to the salaries of rescue workers, teachers, doctors, and also to social support programs. We are expecting the receipt of this grant in the near future, - noted Prime Minister Denys Shmyhal.
What is known about other financial assistance from partners
According to him, Ukraine also met the conditions of the second quarter of 2024 for receiving funds under the EU Ukraine Facility program.
We have a positive assessment from the European Commission. We are talking about reforms in the budget, customs, anti-corruption and energy spheres, - emphasized the head of the government.
Shmyhal noted that as part of this program, Ukraine expects to receive 4.1 billion euros from the EU already in September this year.
Ukraine did not receive aid from the USA this year. In April, the US Congress approved a $61 billion support package for Kyiv, most of which will go to military aid and some to budget support.
According to the Prime Minister, the government will direct this money to the salaries of rescuers, teachers, doctors, and also to social support programs. The receipt of the grant is expected in the near future.
Shmyhal also reported that after long and persistent negotiations, Ukraine agreed with the creditors to restructure the external debt.
Thanks to the agreements reached, Ukraine will save $11.4 billion in payments over the next three years alone. I am grateful to the team of the Ministry of Finance for this important work, Shmyhal added.
