Ukraine receives $17 bln to support budget, 52% of promised international aid - MinFin
MOSCOW. Sept 19 (Interfax) - International partners provided $17.422 billion of financing to cover Ukraine's state budget deficit in the period from the end of February to September 13, which amounts to 52% of the $33.325 billion of aid that they have announced.
Grants amounted to $8.524 billion or 48.9% of the funds received, Ukraine's Finance Ministry reported on its website.
The largest amount of support has been promised by the United States and the European Union: $12.99 billion and $11.6 billion, respectively. However, while the U.S. has already provided $6.99 billion or 54% of the promised amount, and all in the form of grants, the EU has provided $2.426 billion or 21%, of which only $144 million as grants, the ministry said.
The third, fourth and fifth largest donors are Canada, the International Monetary Fund and Germany, which planned to provide $1.521 billion, $1.41 billion and $1.373 billion, respectively. All of this money has already been provided. Only Germany provided the whole amount as a grant.
The IMF recently announced the approval of another $1.4 billion of emergency financing under a Rapid Financing Instrument (RFI) in October.
The United Kingdom is the sixth largest donor, promising $1.102 billion of support for Ukraine's budget, of which $577 million have been provided so far, including $128 million as grants.
The World Bank, European Investment Bank and Japan lent Ukraine $929 million, $720 million and $581 million, respectively. All of these funds have already been received.
France, Italy and the Netherlands have announced approximately equal financial support for Ukraine's budget. France and Italy have already provided all of the announced funds in the amount of $332 million and $330 million, respectively, with Italy providing $125 million as a grant, but the Netherlands has only provided $106 million so far, including $21 million as a grant; another $204 million is expected.
The ministry also said that the National Bank of Ukraine (NBU) covered UAH315 billion or the equivalent of $10.152 billion of deficit financing with a direct purchase of war bonds.
Ukraine had a state budget deficit of UAH416.9 billion (over $11.4 billion at the current exchange rate) in the first eight months of 2022, according to earlier reports citing the Finance Ministry.
The Ukrainian government has said that its monthly deficit financing needs amount to about $5 billion this year. Next year the government plans to reduce the deficit to less than $3.2 billion per month, or $38 billion for the year, and hopes that the U.S., IMF and EU will help finance it.
The official exchange rate for September 16 was UAH36.57/$1.