Minister of Finance Serhiy Marchenko of Ukraine and his German counterpart Christian Lindner have signed an Agreement between the two governments on providing Ukraine with EUR 1 billion in grant funding.

This was reported by the press service of Ukraine’s finance ministry, Vigilant reports.

“The funds will be directed to the state budget of Ukraine to finance priority social and humanitarian expenditures amid martial law,” the statement reads.

It is noted that the funds will be sent to Ukraine through the mechanism of the International Monetary Fund’s Administered Account.

According to Serhiy Marchenko, the grant is seen as an extremely important contribution to support Ukraine.

Ukraine has reportedly received more than $6 billion in foreign aid in the form of grants and loans since the start of the full-scale war. In particular, Ukraine received long-term soft loans from the German government amounting to a total of EUR 300 million to finance the state budget.