Ukraine to get another EUR 3 billion from EU in October, says PM

11 September, 12:12 PM
Denys Shmyhal, Prime Minister of Ukraine (Photo:press service of the Cabinet of Ministers)

Denys Shmyhal, Prime Minister of Ukraine (Photo:press service of the Cabinet of Ministers)

The EU is set to provide Ukraine with EUR 3 billion – the final tranche of the current EUR 8 billion macro-financial aid program – in October, Ukrainian PM Denys Shmyhal said during the 17th annual Yalta European Strategy (YES) summit in Kyiv on Sept. 10.

Shmyhal added that Kyiv is in constant contact with the European Commission, discussing EU’s contribution to enduring Western support.

“We expect a EUR 5 billion credit tranche by the end of this month,” said Shmyhal.

“The second part – EUR 3 billion will be an EU grant to Ukraine.”

While the total damages of Russia’s full-scale invasion are estimated to be around $340 billion as of now, the PM said the country urgently needs $17 billion to facilitate a rapid economic recovery from the war shock.

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The YES conference is organized every year by Ukrainian oligarch Viktor Pinchuk. The event moved from Yalta, Crimea, to Kyiv – following the illegal Russian annexation of the peninsula in 2014.

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