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  • By The Financial District

EU, World Bank, U.S. Pour Money Into Ukraine

The European Union (EU) will pour 5 billion euros in macro-financial assistance to Ukraine in three tranches from October, November, and December, Reuters reported, citing European Commission Vice-President Valdis Dombrovskis, Kyiv Independent also reported.


Photo Insert: The loan will help cover pension payments and certain state social programs, support for low-income families, children with disabilities, IDPs, and healthcare programs.



Estonian president calls Ukraine 'worthy ally,' backs its NATO bid. "Ukraine has proven to be a worthy ally, so it's time to move forward with the promises made in Bucharest in 2008," Estonian President Alar Karis said on Oct. 4, referring to the summit, at which NATO members agreed that Ukraine would join the alliance.


US President Joe Biden has announced a $625-million security assistance package for Ukraine. Following a call with President Volodymyr Zelensky, Biden pledged to continue supporting Ukraine as it defends itself from Russian aggression for as long as it takes, the White House said.



Biden also affirmed the continued readiness of the United States to impose severe costs on any individual, entity, or country that provides support to Russia’s purported annexation.


Ukraine will also receive a $500 million loan from World Bank. The loan will meet Ukraine’s urgent needs caused by Russia’s war. “(The loan is guaranteed by) the United Kingdom and Denmark: the loan repayment period is 19 years with a five-year grace period. The interest rate is 0.25% per annum," Ukraine's Finance Ministry said.


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The loan will help cover pension payments and certain state social programs, support for low-income families, children with disabilities, IDPs, and healthcare programs, the ministry said.


The Times: Putin prepares to test nuclear weapons on Ukraine’s borders. A train operated by the Russian secretive nuclear division was spotted in central Russia moving towards Ukraine, The Times reports, citing Poland-based defense analyst Konrad Muzyka.


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This move "could be a form of signaling to the West that Moscow is escalating" or preparing for a "strategic deterrence exercise," said Muzyka. NATO has already warned its allies about possible nuclear tests by Russia, according to The Times.



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