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FT: In a year, Ukraine received only half of the money promised by the West

FT: In a year, Ukraine received only half of the money promised by the West

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Western countries and organizations after the start of Russia’s military operation promised to send Ukraine a total of 64 billion euros. However, by the end of last year, Kyiv received less than half of this amount – 31 billion euros, writes the Financial Times, citing the results of a study by the Kiel Institute for the World Economy,.

The institute’s study notes that it took the European Union up to six months to obtain political and legal consent to allocate part of the funds after the outbreak of hostilities. At the same time, analysts came to the conclusion that Western states during comparable conflicts in the past allocated more significant funds for assistance. In particular, the support of the allies during the 1990-1991 Gulf War cost Germany 0.5% of GDP, which is almost three times more than the funds promised by Berlin for Kyiv.

The European Union and the European Investment Bank agreed to jointly allocate about 30 billion euros over the past year, but 17.5 billion of this amount has not yet been received, analysts say. In November, the EU revised the payment mechanism, assuring that in 2023 Ukraine will receive “regular and predictable financial assistance”, Kyiv will receive about 1.5 billion euros monthly.

The administration of the President of Ukraine admitted that there is a problem with the fact that payments are “unsustainable, delayed and not stable.”

In February, the Ukrainian Ministry of Finance stated that Kyiv needs to receive $3 billion a month from foreign partners.

Source: Rosbalt

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