Ukraine receives record $4.6 billion in foreign aid in August, pending EU MFA in September-early October – Finance Minister

A total of $3 billion in grants recently provided by the United States through the World Bank brought total foreign aid in August to $4.6 billion, a record monthly volume since the beginning of the war, said Finance Minister Serhiy Marchenko.

“We also expect to receive $1.5 billion 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 EUR 9 billion, EUR 1 billion has been allocated so far]“, he said during the national telethon.

Commenting on a possible visit to Ukraine by German Finance Minister Christian Lindner, Marchenko recalled that he had planned a visit in July or early August, but that it would be good if it took place in September.

The Ukrainian Finance Minister recalled that Lindner believed that EU MFA to Ukraine should be more of a grant than a loan, which contradicts the current MFA allocation mechanism.

“For us, it is not a matter of principle of a grant or a loan, because they are allocated for a long-term period on preferential terms. It is important for us to settle the problem of liquidity” , said Marchenko, giving the position of Ukraine on this subject. question.

As noted, the Department of Finance initially projected $6 billion in August and $4.7 billion in September, down from $1.7 billion in July and $4.4 billion in June. According to Marchenko, by the end of the year, Ukraine expects to reach about $30 billion in foreign aid since the start of the war, of which about $17 billion has already been received.

About Norma Wade

Check Also

European stocks slide 2.8% after weak eurozone data and new UK economic plan

European stocks were down sharply on Friday as investors digested a series of central bank …