Page 46 - UKRRptSept23

loan repayment in 35 years. As well, the EU will service the loan rather than Ukraine. As in previous periods, this assistance is aimed at financing the state budget's priority expenditures, particularly social and humanitarian functions. The President of the European Commission, Ursula von der Leyen, noted that since March 2022, the EU has already given €19.2B in aid to Ukraine. "We support Ukraine in its efforts to restore, rebuild and ensure the stable operation of the state. Today we transferred a new tranche to Ukraine," the official said. The next tranches within the framework of the large-scale program of macro-financial assistance are expected by the end of 2023, considering Ukraine's fulfillment of the structural policy conditions agreed upon by the parties.
The EU will transfer €135M to Ukraine that had been intended for Russia and Belarus. As reported by the European Commission, the €135M had been allocated to finance the Interreg NEXT programs with Russia and Belarus during 2021-2027, but it was decided to transfer the funds to Ukraine and Moldova. "Such a decision results from Russia's brutal war against Ukraine. It will help strengthen cooperation between EU regions and local stakeholders with Ukrainian and Moldovan partners," the European Commission commented on the decision. Ukraine and Moldova will direct these funds to develop cross-border transport connections, medical services, educational and research projects, and social integration schemes and strengthen the institutional capacity of state authorities. Previously, the European Commission suspended cooperation with Russia and Belarus in Interreg programs and decided to redistribute €26M to support cooperation programs with Ukraine and Moldova. The new decision redistributes the remaining funding from the 2021-2027 period in the same way.
Germany plans $5.5 billion in annual military aid for Ukraine until 2027. Germany plans to provide Ukraine with 5 billion euros ($5.5 billion) in annual military aid until 2027, German Finance Minister Christian Lindner said on Aug. 14, Forbes Ukraine reported.
Ukrainian businesses will receive up to €4,000 in micro-grants from EU4Business. 750 companies will receive funds within the framework of the EU4Business program, financed by the EU and the German government. The funds can be used to purchase equipment and raw materials and to pay wages, rent, and other business expenses, the Ministry of Statistics reported. The primary purpose of the grants is to support the recovery of business activities in parts of Ukraine that were most affected by hostilities or occupation, as well as to strengthen the stability of micro-businesses in other regions of Ukraine. Meanwhile, according to the results of the twelfth wave of micro-grant applications under the Own Business state program, 311 Ukrainians will receive a total of UAH 73.4M. Since the program began, the state has invested UAH 1.4B in developing small businesses through microgrants. This year, the Own Business program will use UAH 1.8B to allow the issue of 10,000 microgrants.
6.1.4 Budget dynamics - privatisation
After the resumption of privatization in September 2022, UAH 5B has been produced for the budget. With almost a year of small privatization operations, the budget has received more than UAH 3.8B in revenues from open auctions. Considering the taxes paid and the repayment of debts, the
46 UKRAINE Country Report September 2023 www.intellinews.com