Foreign financial assistance to Ukraine hits record low of $2bn per month since February 2022: Report

Foreign financial aid to Ukraine has hit record lows since February 2022 after falling to a monthly average of 1.9 billion euros ($2 billion) in the first half of 2024, an analysis of the Ukrainian Finance Ministry's data showed on Saturday. Kiev also received no funds in May.

In 2022, Ukraine’s budget received an average of 2.9 billion euros per month from 17 countries and the European Union, with the United States providing the largest disbursement of 11.4 billion euros, the EU 7.6 billion euros and Canada 1.8 billion euros, the data showed.

In 2023, 13 countries and the European Union, which became the largest donor (18.1 billion euros), provided Ukraine with a monthly average of 3 billion euros, the data said. The United States took the second place with 10.1 billion euros, followed by Japan with 3.4 billion euros, the data said.

Austria, Albania, France, Italy, the Netherlands, Denmark, Sweden, Lithuania and Latvia did not provide any financial assistance to Ukraine last year, the data added.

This year, Kiev received financial support from the European Union, Canada, Japan, Norway, Spain, the United Kingdom and the monthly allocations dropped to 1.9 billion euros, the data showed.

Earlier in June, European Commission President Ursula von der Leyen announced that Ukraine would receive 1.5 billion euros from profits generated by frozen Russian assets in July. Kiev is also set to receive 1.9 billion euros from the European Union by the end of June for reforms and investment, she stated.

Western voters are gradually getting tired of the Ukrainian crisis and do not want to see their governments sending more aid to Kiev, according to reports.

Western countries have been providing massive military and financial aid to Kiev since the start of Russia’s military operation in Ukraine in February 2022. The Kremlin has consistently warned against continued arms deliveries to Kiev, saying it would lead to further escalation of the conflict.

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