Ukraine finds itself in a difficult financial situation, suffering from the ongoing threat of military invasion and economic damage. Measures aimed at improving the levels of national security and defense have increased state spending significantly.
At the same time, Ukraine is finding it harder to borrow much-needed funds on international financial markets.
Therefore, several countries have decided to support Ukraine with funding to give it a lifeline.
The most recent pledge was made on Feb. 11, when National Security Adviser Jake Sullivan briefed US lawmakers on a proposal by President Joe Biden’s administration to provide Ukraine with $1 billion in sovereign credit guarantees.
Sullivan called it part of a broader package of macroeconomic support for Ukraine.
Ukraine will also receive financial support from the UK, European Union, France, Germany, and Canada.
On Feb. 13, Canadian Prime Minister Justin Trudeau announced that his country would be providing $6.1 million worth of lethal equipment and ammunition “to dissuade Russia from pursuing its aggression towards Ukraine.”
He also confirmed that Canada is offering to lend $393 million to Ukraine.
On Feb. 1, the European Parliament supported a vote to provide Ukraine with EUR 1.2 billion in macro-financial assistance.
Earlier, on Jan. 24, European Commission President Ursula von der Leyen announced that the European Commission would provide Ukraine with a EUR 1.2 billion package of financial assistance.
Speaking in Brussels German Foreign Minister Annalena Baerbock promised support for Ukraine and argued that “economic stabilization” was “one of the decisive measures” of support that Germany could provide, after it refused to provide Ukraine with weapons.
Her announcement came the same day that European Commission President Ursula von der Leyen proposed a EUR 1.2 billion emergency aid package to “help Ukraine now to address its financing needs due to the conflict.”
The money still needs to be approved by EU countries and the European Parliament.
President Volodymyr Zelensky confirmed on Feb. 8 that France will allocate EUR 1.2 billion of macro-financial assistance to Ukraine.
Zelensky was speaking at a joint press conference with visiting French President Emmanuel Macron.
