Ukraine to get 1-bln-euro grant from Germany

MOSCOW. June 27 (Interfax) - Germany will allocate a 1-billion-euro grant to Ukraine to finance the state's prioritized expenditures under an agreement signed between the two governments on June 24, Ukrainian Finance Minister Serhiy Marchenko said.

"I thank my friend, German Finance Minister Christian Lindner, for promptly implementing this important decision. This financial support is important as never before," Ukrainian media quoted Marchenko as saying on social media.

It has been reported that Germany's grant was expected to be issued via a special account administered by the International Monetary Fund (IMF).

In April 2022, the IMF decided to create an administrative account for donor countries to transfer funds in favor of Ukraine as part of Special Drawing Rights (SDR). All funding raised using this account in the form of grants or loans is supposed to be used to maintain Ukraine's financial stability.