Ukraine to Receive €3.4 Billion in Aid This Summer, Including From the Frozen Assets of Russia

The President of the European Commission, Ursula von der Leyen, stated at the opening ceremony of the Ukraine Recovery Conference 2024 in Berlin, that Ukraine will receive €3.4 billion in aid this summer.

€1.5 billion will become available for Ukraine from the frozen assets of the Russian Federation. This was stated by the President of the European Commission, Ursula von der Leyen, during the opening ceremony of the Ukraine Recovery Conference 2024.

“During last year’s recovery conference, I said that we should transfer the frozen assets of the Russian Federation to Ukraine. And now we make it possible in accordance with international legislation and maintaining the stability of financial markets. About 1.5 billion euros from these revenues will be available in July,” said Ursula von der Leyen.

According to her, 10% of these funds will be used for reconstruction and restoration and a large percentage will also be spent on defense.

Ursula von der Leyen added that during the upcoming G7 summit, June 13-15, the discussions will continue on Ukraine’s use of frozen Russian assets.

In addition, €1.9 billion will arrive in June under the Ukraine Facility Plan. This plan’s program will provide Ukraine with €50 billion during the years 2024-2027. Of this amount, €39 billion will be directed to the state budget to strengthen macro-financial stability. The rest is a special investment instrument for covering risks in priority sectors, loans, and else.

This conference is being held in the lead-up to Summit on Peace for Ukraine, which will take place in Switzerland on June 15-16. According to Switzerland’s president, nearly 90 countries and organizations, have confirmed attending the summit.