The total amount of assistance declared and provided to Ukraine, since the "invasion" launched by Russsia, by international partners is $30 billion, according to the June 2022 financial stability report by the National Bank of Ukraine.
"Ukraine's partners also provide significant amounts of financial support directly to finance budget expenditures. The volume of loans from the IMF, the EU, the EIB, the World Bank, and foreign governments since the outbreak of the war as of mid-June exceeded $7 billion. In total, about $30 billion in financial assistance has been provided and announced," the statement reads.
It is noted that up to a third of the funds provided are non-repayable grants, the rest are low-interest loans and credit guarantees. This money is the main source of covering the state budget deficit, which arose against the background of Russian military aggression, Ukrinform news agency reported.
The National Bank clarified that the financing of defence and social spending, as well as economic support will continue to be critically dependent on international aid and its timely receipt. In particular, $5 billion a month is needed to cover the budget deficit.
Canadian Deputy Prime Minister for Finance Christia Freeland and US Treasury Secretary Janet Yellen have earlier reaffirmed their determination to continue supporting Ukraine.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First Published: Jun 22 2022 | 11:26 AM IST