Business news from Ukraine

Business news from Ukraine

Germany to increase military aid to Ukraine to EUR5 bln per year until 2027

15 August , 2023  

German Finance Minister Christian Lindner said that the German government has included support for Ukraine, including military aid, in its budget planning until 2027.

“For the next few years we have already firmly planned further support for Ukraine in our budget planning. The government already agreed this a few weeks ago, and I have no doubt that it will also be confirmed by our parliament in the coming months,” Lindner said at a joint press conference with Ukrainian Finance Minister Serhiy Marchenko.

He noted that the planned EUR5bn of military aid is bilateral aid. In addition, Lindner added, Germany makes various financial contributions to the EU, provides support in the humanitarian sphere of Ukraine and Ukrainians fleeing the war in the FRG.

“You know that Germany is the largest contributor to the European budget. We also have a correspondingly high share of the future financial aid that the European Union has promised to Ukraine. In our state budget, we have allocated large funds for the military until 2027 so that Ukraine can continue to rely on our contributions in the coming years,” Lindner said.

The finance minister also emphasized that Germany’s support for Ukraine since the start of the full-scale invasion amounts to EUR22bn, of which EUR12bn is military aid.

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