Germany Invests More €5 Bln in Safety of Ukraine and Europe

by Meifan Honcharuk
Saturday, August 19, 2023
Germany Invests More €5 Bln in Safety of Ukraine and Europe

German government approves military support plan for Ukraine until 2027

German finance minister Christian Lindner confirmed this information. He emphasised that this is not necessarily Germany's last package of support. He stated that the country would support Ukraine in preserving its lands from Russian invaders as much as necessary. However, the government has now approved a support plan for 4 years since 2023. The amount of €5 billion will be allocated to the military needs of the Armed Forces of Ukraine until 2027.

Earlier, on August 14, the finance ministers of Ukraine and Germany signed a joint document. According to it, cooperation between the countries will be strengthened to expand the possibility of maintaining the stability of the Ukrainian budget. In addition, the German side will provide advisory support in the following areas:

  • Customs policy;
  • Monitoring of financial markets;
  • Disposal of public investments;
  • Privatisation of state enterprises.

"The exchange of experience will allow access to the best European practices and significantly improve the level of training of Ukrainian specialists, including accelerating our integration into the European Union," said the head of the Ministry of finance of Ukraine Marchenko.

Germany has already provided military support to Kyiv for €12 billion and €22 billion in total, taking into account non-military aid.

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