EU sends $1 billion in financial aid to Ukraine
These funds are part of the larger $9 billion package of EU financial aid (Photo:Yves Herman / Reuters)
The EU has sent $1 billion in emergency financial assistance to Ukraine, PM Denys Shmyhal said in a Telegram post on Aug. 1.
“The first tranche of EUR 500 million ($500 million) is already with the NBU (National Bank of Ukraine); the second half is expected tomorrow,” said Shmyhal.
These funds are part of the larger $9 billion package of EU financial aid – according to Shmyhal – and will be used to finance the most urgent national expenses.
The European Investment Bank earlier approved a $1.6 billion Ukraine aid program.
Ukraine is facing enormous financial strain due to the full-scale Russian invasion, and is heavily reliant on partner financing to continue government functions, including the military.
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