Ukraine to receive €3.4 billion in aid, in particular from Russian frozen assets this summer
The European Union will transfer new financial aid to Ukraine in the summer, said the President of the European Commission, Ursula von der Leyen, at the opening ceremony of the Ukraine Recovery Conference 2024 in Berlin.
In July, 1.5 billion in proceeds from frozen Russian assets will become available. Of this amount, 10% will go to reconstruction and recovery, and a "large percentage" to defense.
This week, the G7 meeting will also discuss how Ukraine can get more profit and benefit from frozen Russian assets.
In addition, €1.9 billion euros will arrive in June under the Ukraine Facility program, which envisages the provision of €50 billion euros to Ukraine in 2024-2027. Of this amount, €39 billion euros will be directed to the state budget to strengthen macro-financial stability. The rest is a special investment instrument for covering risks in priority sectors, covering interest on loans, etc.
On June 11, within the framework of the conference in Berlin, an agreement for €1.5 billion euros will also be signed with partner banks to encourage private sector investments in Ukraine. Ursula von der Leyen announced that partner banks will be able to apply for budget support from the EU if they actively invest in Ukraine.