EU becomes largest donor of financial assistance to Ukraine in 2024

The relevant statement was made by the Ukrainian Finance Ministry, an Ukrinform correspondent reports.

“The European Union provided Ukraine with the largest amount of financial assistance under the Ukraine Facility for 2024-2027. The total amount of support reached USD 17.3 billion, of which USD 3.2 billion were grants,” the report states.

The United States took second place, with USD 8.3 billion provided as grants. The International Monetary Fund (IMF) was ranked third among Ukraine’s donors, with USD 5.3 billion provided in concessional financing.

Meanwhile, Japan provided USD 4.3 billion in financing for 10 projects through the World Bank, including a USD 1.4 billion guarantee to support development and recovery policies, USD 899 million in loans under the INSPIRE project to provide social protection for the poor and vulnerable in Ukraine, and a USD 465 million grant under the PEACE in Ukraine project.

A significant portion of financial assistance came from the Word Bank (USD 3.2 billion), Canada (USD 1.8 billion), and the United Kingdom (USD 1 billion).

Additionally, Ukraine received financial assistance from Norway, the Republic of Korea, Spain, and the Council of Europe Development Bank.

For the first time, the Republic of Korea has provided USD 100 million in budget support to Ukraine through concessional financing to support social services.

According to the ministry, international assistance allowed Ukraine to fully cover social and humanitarian expenditures, while all domestic financial resources were directed to the security and defense sector.

Overall, since the Russian full-scale invasion started, international partners have provided USD 115.2 billion in budget support to Ukraine.

A reminder that the Ukrainian Finance Ministry received USD 41.7 billion in international assistance in 2024, which allowed for social benefits to be fully financed amid significant defense expenditures.