Ukraine Received the 6th Tranche From the European Union

by Meifan Honcharuk
Friday, July 28, 2023
Ukraine Received the 6th Tranche From the European Union

The Ministry of finance of Ukraine declared the receipt of €1.5 bln of micro-assistance from the EU

The funds were received within the framework of the approved large-scale financial assistance from the organisation. The total volume of tranches will be €18 billion. Currently, Ukraine has received the 6th financial aid package. Together with €1.5 billion received in July, this annual assistance from the EU has already amounted to €10.5 billion. These funds are used for priority expenditures of the state budget of Ukraine. It should be noted that this year, in addition to social payments to internally displaced persons and victims of the attacks of the Russian Federation on Ukraine, the issuance of a salary layer to employees of education and state institutions, Kyiv also had to lay in the budget expenditures the repair of the country's energy lines. Recall that the Russian Federation launched over a dozen missile attacks on Ukrainian power plants, creating an electricity shortage.

The tranche of €1.5 billion is intended to restore infrastructure and support the need to develop transport links caused by the war of the Russian Federation in Ukraine.

"I strongly condemn Russian strikes on Ukrainian grain storage and export infrastructure. As long as Russia continues its ruthless war, we continue to support Ukraine," Ursula von der Leyen wrote on Twitter.

The tranche has a grace period and should be closed after 35 years. The European Union has assumed the obligation to pay all interest for servicing the loan. 

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