European Investment Bank will redirect 640 million euros from other projects to Ukraine's State Budget

Saturday, 6 March 2022, 15:49

The European Investment Bank will redirect 639 million Euros from other projects to the state budget of Ukraine, according to Ukrainian Prime Minister Denis Shmygal's video address.

"We are negotiating financial assistance with all international organisations and countries. Following the latest round of decisions, the European Investment Bank will transfer 639 million Euros from other projects to the state budget of Ukraine. We have already approved the necessary documentation," Shmygal said.

He also reminded viewers that specific funds are being set up in Ukraine, the proceeds of which will be used to rebuild Ukraine.

The government has already authorised the relevant ministries to open four accounts in the National Bank of Ukraine. The accounts will collect money from individuals, organisations, companies, and international financial organisations.

"We are talking about the Fund for Economic Recovery and Transformation, the Fund for the Support of Small and Medium Businesses, the Fund for the Restoration of Property and Destroyed Infrastructure.

Here we are talking about homes and apartments, and the housing that people have lost. In fact, this fund will provide compensation for such things. There is also a Public Debt Service and Repayment Fund," Shmygal said.

In addition, the head of the government said that the martial law economy requires clear planning of demand, and the state has already begun to place government orders with businesses to meet the most critical needs.

It's not just about weapons, but also about food, medicine, fuel, and other important goods.

The Prime Minister added that the government has already restricted the export of socially important goods and the raw materials from which they are made. Control over food security is a top priority for the Ministry of Economy.

Economichna Pravda