Germany provides Ukraine with EUR 50 million grant to support business

Ukraine is expecting a new impetus for economic development as Germany has awarded a grant of 50 million euros (approximately UAH 2 billion). The decision to accept the grant was made by the Cabinet of Ministers at a meeting on November 24, noting that the funds will be used to support the economy.

By accepting this grant, the Government of Ukraine will continue to finance one of the most successful business support programs, 5-7-9. The program provides soft loans and is a key tool for ensuring sustainable development of enterprises.

Prime Minister Denys Shmyhal noted that the new financial efforts by Germany are an important step to help Ukraine overcome economic difficulties, particularly in the context of military and political challenges.

The European Union recently disbursed a €1.5 billion tranche of macro-financial assistance to Ukraine, and the United Kingdom has channelled $400 million through the World Bank's trust fund.

According to Shmyhal, these funds are used to meet social needs, such as social benefits, pensions, salaries for medical and educational personnel, and to cover other critical government expenses.