Feb 14 β€’ 08:54 UTC πŸ‡ΊπŸ‡¦ Ukraine Ukrainska Pravda

EU to provide Ukraine with €90 billion after IMF programme approval

The European Union is set to provide Ukraine with a €90 billion aid package contingent on the approval of a new International Monetary Fund program.

The European Union has announced plans to grant €90 billion to Ukraine, contingent upon the successful approval of a new four-year program by the International Monetary Fund (IMF). This approval is anticipated by the end of February, with the expectation that Ukraine could receive this financial support by April. Prime Minister Yuliia Svyrydenko has indicated optimism regarding the IMF's decision, which is critical for unlocking the EU's substantial assistance package.

The breakdown of the €90 billion is significant, with €60 billion expected in 2026-2027. A more immediate allocation of €15 billion is slated for budget support, while €45 billion will be dedicated to the procurement of weapons and military equipment to bolster Ukraine's defense. The strategic importance of this funding emphasizes the EU's commitment to supporting Ukraine amidst ongoing challenges, as well as aligning military support with broader economic stability efforts.

Svyrydenko's comments underline the urgent need for international financial support, reflecting Ukraine's ongoing economic and military needs in the wake of the ongoing conflict. This substantial aid package highlights the EU's role in Ukraine's stability and recovery while also illustrating the interconnectedness of global financial aid mechanisms such as the IMF. As the situation evolves, the outcomes of the IMF's decisions will be crucial for both Ukraine's future and the EU's geopolitical strategies in the region.

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