EU allocates €75 million for humanitarian aid to Ukraine
20 February 19:20
The European Commission has allocated 75 million euros for humanitarian aid for Ukrainians affected by Russia’s full-scale invasion. This is stated in a statement by the European Commission, according to
“Russia’s targeted attacks on Ukraine’s key energy and civilian infrastructures, such as hospitals, schools and electricity grids, are seriously hampering people’s access to basic services. With each new shelling, more and more Ukrainians are left homeless and in need of assistance and shelter in the freezing cold. An estimated 14.6 million people in Ukraine are in need of humanitarian assistance,”
– the statement said.
Of the €83 million in humanitarian funding:
- €75 million has been allocated to humanitarian projects in Ukraine to provide emergency assistance, including access to basic needs such as shelter, protection services, clean water, education and healthcare.
- eUR 8 million is allocated to humanitarian projects in Moldova that provide targeted assistance to the most vulnerable, including humanitarian cash assistance for basic needs, protection and health.
Including the new funding announced today, the European Commission has committed a total of €926 million to humanitarian assistance programmes for civilians affected by the war in Ukraine following Russia’s invasion in February 2022. Of this funding, €860 million has been allocated to humanitarian programmes within Ukraine and €66 million to support refugees who have fled to neighbouring Moldova.
Assistance to Ukraine
As of June 2023, Ukraine had received a total of €170 billion in aid from partners, according to the Ministry of Reintegration. This amount includes military, financial, and humanitarian aid. Aid from the US reached €71 billion, while the EU allocated €62 billion. Half of these funds were financial aid, about 40% were military aid, and the rest were humanitarian aid.
(Will there be?) help from the US
The House of Representatives is currently considering a bill that would allocate $61bn in aid to Ukraine. However, the US Congress is currently on recess until the end of February.
50 billion euros from the EU
At a summit in Brussels on 1 February, EU leaders approved a mechanism for allocating €50 billion to Ukraine for the period 2024-2027. As previously reported by the EU, this programme consists of €17 billion in grants and €33 billion in loans. The mechanism provides not only for financing budgetary areas in Ukraine during the war, but also for programmes aimed at implementing the reforms that are essential for Ukraine’s accession to the EU.
IMF loan programme
In March 2023, Ukraine agreed with the IMF on a new four-year loan programme worth USD 15.6 billion. The programme will have two phases. The first phase, which will last 12-18 months, is aimed at ensuring fiscal, price and financial stability. The second stage involves more in-depth measures aimed at macroeconomic stability, recovery and reconstruction of the country, and economic growth. At all stages, Ukraine should continue reforms, such as anti-corruption and governance, and refrain from cutting taxes.
According to IMF Managing Director Kristalina Georgieva, Ukraine needs $42bn to secure economic stability.
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