21 Dec 2023 12:22

Ukraine receives 150 mln euro grant from EU

MOSCOW. Dec 21 (Interfax) - Ukraine on Wednesday received a 150-million-euro non-refundable grant from the European Union as part of a bilateral agreement on financing the Ukraine Rapid Recovery Support program (State Building and Resilience Contract), Ukrainian media said, citing the Finance Ministry.

"Grant funding will support priority measures in restoring critical infrastructure, namely transport, utilities and services, social infrastructure, and residential areas," Ukrainian Finance Minister Sergei Marchenko said.

The second tranche of 100 million euros is expected in the first quarter of 2024, the ministry said. These funds will be used to finance recovery efforts and to support small farms and other agricultural enterprises.

Marchenko said the day before that Ukraine had raised over $39 billion in external financing since the beginning of 2023, up from $32.1 billion received throughout 2022. This amount will reach nearly $42.3 billion at the end of 2023, as Ukraine expects to receive this year's final 1.5-billion-euro tranche of EU macrofinancial assistance.