The European Union will allocate 80 million euros to Ukraine: what will be the money

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Europe will provide financial support to Ukraine to overcome the crisis arising from coronovirus

Ukraine will receive 80 million euros from the European Union: where will the money go. Photo: internationaldirector.com

The European Union will continue to provide financial support to Ukraine in the context of the crisis posed by the Kovid-19 epidemic. According to the website of the European Union’s delegation to Ukraine, the European Union is preparing the first support package of € 80 million, which will be used to finance the health system and support the economy.

In particular, the funds are planned to be spent on the purchase of medical supplies and equipment needed in the fight against coronoviruses. In addition, the funds will be used to support small and medium-sized enterprises (SMEs) by providing liquidity, including international financial institutions. The most vulnerable and affected people will also be supported by the crisis categories of the population (doctors, volunteers, the elderly): a package of emergency social assistance will be created specifically for such citizens.

It is noted that the European Union is already working with institutions and financial organizations to facilitate, simplify and facilitate the use of existing credit lines, assistance programs for SMEs, self-employed citizens and other business entities. Team Europe is working as part of the initiative to increase.

The European Union will provide a Euro 500 million guarantee for planned guarantees under the European Fund for neighboring countries. This will help ensure liquidity in neighboring countries of the European Union through a moratorium on working capital, trade finance and debt service. Also in Ukraine, the launch of a new SME support program (EUR 20 million) will be accelerated, within which another EUR 10 million will be allocated for lending hryvnia to small and medium-sized businesses. In addition to the € 26 million allocated in 2019, a small agricultural assistance program of € 25 million is also being introduced.

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Earlier, we wrote that the World Bank has raised a $ 2 billion accelerated financing fund to $ 14 billion for the fight against coronaviruses. The bank said it would use only $ 8 billion to support private companies and their employees who were affected by the economic consequences of coronoviruses. Increase of funds is expected to strengthen national health systems to combat the spread of infection and to meet the growing demand for medical services, devices and medicines.

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