November 16, 2024
Ministry of Finance: 33% of foreign budget aid to Ukraine came in the form of grants thumbnail
Ukraine News Today

Ministry of Finance: 33% of foreign budget aid to Ukraine came in the form of grants

It is about attracting 33.7 billion US dollars to the state budget”, — write: www.radiosvoboda.org

Since the beginning of the full-scale invasion, the state budget has attracted 33.7 billion US dollars, or more than 33% of the total amount of foreign aid was in the form of grants, the press service of the Ministry of Finance reports.

“That is, every third dollar was provided by the partners on an irrevocable basis. This made it possible to support budget liquidity without increasing the debt burden,” the message reads.

According to the Ministry of Finance, Ukraine received the most funds in the form of grants from the United States, the European Union is the second donor in terms of grant funds – 2.3 billion US dollars. Also, countries such as Germany (1.4 billion US dollars), Japan (955 million US dollars), and Norway (506 million US dollars) provided significant support on an irrevocable basis.

Read also: Britain will provide Ukraine with more than 2 billion pounds at the expense of the frozen assets of the Russian Federation – the government

The ministry adds that another part of external financing was provided to Ukraine on preferential terms – in particular, financial assistance from the EU, received in 2023, provides for the compensation of expenses for servicing the loan by EU countries. The Ukraine Facility instrument with a volume of EUR 50 billion for 2024-2027 includes about EUR 2 billion to cover interest on the loan from the EU.

In total, from February 2022, external budget support will reach more than 100 billion US dollars: 31.1 billion US dollars in 2022, 42.5 billion in 2023, 27.2 billion in 2024 (as of November 14). The largest providers of budget aid during this period are the EU – 40.5 billion, the USA – 28.2 billion, the IMF – 11.4 billion, Japan – 6.3 billion, Canada – 5.4 billion.

Since the beginning of the full-scale war, the expenditures of the state budget of Ukraine have increased significantly. While the military campaign is financed from domestic resources, Ukraine relies on the support of international partners in financing social and humanitarian needs.

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