Germany to allocate 1 billion euros in grants for Ukraine

Ukraine’s Cabinet of Ministers has approved the attraction of a grant of 1 billion euros, which will be provided by the German government, Taras Melnychuk, a government representative in the Verkhovna Rada, said on Telegram, News.Az reports.

"At today's meeting [on Tuesday], the attraction of a grant for budget support from Germany in the amount of 1 billion euros was approved. In addition, the draft agreement was approved in accordance with the instrument created by the International Monetary Fund (IMF) for the administrative account for Ukraine for this grant,” Melnychuk said.

The funds will be used to cover budgetary needs in order to stabilize the Ukrainian economy.


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