Germany to allocate about 1B euros to support Ukraine’s budget

Germany will provide Ukraine with short-term budgetary support of about $1 billion euros. The funds are planned to be used to support the efficiency of the state system, German Finance Minister Christian Lindner said, Report informs citing Spiegel.

He noted at the meeting of the finance ministers of the G7 countries that these are grants that should be paid from the budget for 2022, without any additional debts. The funds will be used to ensure the viability of the Ukrainian state destroyed by the war.

He said that other G7 countries are also ready to take part in providing financial assistance to Ukraine. For example, the US wants to allocate $7.5 billion for these purposes.

The G7 countries intend to approve a $15 billion financial assistance package to Ukraine, which will allow the country to cover its three-month needs.