Ukraine to receive €1 billion grant from Germany

The Minister of Finance of Ukraine Serhiy Marchenko and the Federal Minister of Finance of Germany Christian Lindner signed an agreement between the governments of the countries on granting Ukraine €1 billion euros of grant financing.

"On June 24, Minister of Finance of Ukraine Serhiy Marchenko and Federal Minister of Finance of Germany Christian Lindner signed an agreement between the governments of Ukraine and Germany on providing Ukraine with €1 billion of grant financing. The funds will be sent to the state budget of Ukraine to finance priority social and humanitarian expenditures during martial law," the Ministry of Finance of Ukraine said in a statement, reports Ukrinform.

It is noted that the money will be sent to Ukraine through the mechanism of the administrative account of the International Monetary Fund.

According to Marchenko, this grant will be a very significant contribution to supporting Ukraine.

As reported, Ukraine has received over $6 billion in foreign aid in the form of grants and loans since the beginning of the full-scale war. In particular, from the government of the Federal Republic of Germany, Ukraine received a long-term concessional loan totaling €300 million to finance the state budget.