The Cabinet of Ministers has approved an agreement to finance the program on EU support for recovery and reform. After its signing, Ukraine will receive EUR 335 million in aid from the European Commission.
Ukrainian Prime Minister Denys Shmyhal said this at a government meeting on October 31.
“Today we have approved the agreement on the financing of the EU Support for Recovery and Reform program. After its signing, the European Commission will allocate EUR 335 million in aid,” he said.
Shmyhal added that the funds would be spent on the reconstruction of infrastructure, including energy infrastructure, assistance to businesses, anti-corruption measures, environmental protection and digitization.
According to estimates by the Kyiv School of Economics, the direct damage caused to Ukraine’s infrastructure by Russia’s full-scale invasion has already exceeded $150 billion, including almost $56 billion worth of damage to the country’s housing stock. (Ukrinform/Business World Magazine)