The European Commission is set to provide €335 million ($353 million) in financial aid to Ukraine, Ukrainian Prime Minister Denys Shmyhal announced on 31 October.
According to Shmyhal’s statement, the funds will be allocated after the signing of the “EU Support Programme for Recovery and Resilience.”
Financial aid will be distributed across several key areas including infrastructure reconstruction, business support, anti-corruption measures, environmental protection and digitalisation.
A significant portion will go towards rebuilding damaged energy infrastructure, as Ukraine seeks to restore power across the country amidst Russia’s targeting of energy facilities.
As of early October 2023, the EU’s military assistance to Ukraine was €25 billion ($ 26 billion), while total military, civilian and humanitarian aid reached €85 billion ($89 billion), according to a statement by EU High Representative Josep Borrell during a visit to Kyiv.
On 17 October, the European Parliament approved a proposal for €50 billion ($52 billion) to aid Ukraine’s recovery, reconstruction and modernisation from 2024-2027.
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