KYIV: Ukraine will receive €6 billion from the European Union via its four-year Ukraine facility in the next two months, Prime Minister Denys Shmyhal said on Friday (Mar 8). The government expects to receive €4.5 billion in March and another €1.5 billion in April, Shmyhal told a government meeting.
Flags of the European Union and Ukraine flutter outside EU Parliament building, in Brussels, Belgium, on Feb 28, 2022. KYIV: Ukraine will receive €6 billion from the European Union via its four-year Ukraine facility in the next two months, Prime Minister Denys Shmyhal said on Friday .
"This year, we aim to receive about €16 billion from the European Union. Ukraine will have the resources to fight and win. It is our key objective and we will do everything possible for it," Shmyhal said. Billions in economic aid in the first two years of the war helped the government to maintain macroeconomic stability, tame inflation and ensure timely payments of pensions and public sector wages.But in the first two months of this year, Kyiv received only US$1.2 billion as major financing packages were delayed or blocked.
The government borrowed more from the domestic debt market and asked the state companies to make some obligatory budget payments in advance to meet spending needs in the first two months of the year.