War causes high debts: Ukraine only receives a fraction of promised aid

Ukraine's most important donors have promised more than 30 billion euros in aid since the beginning of the war.

War causes high debts: Ukraine only receives a fraction of promised aid

Ukraine's most important donors have promised more than 30 billion euros in aid since the beginning of the war. Since the end of February, however, only a small part of this has flowed. The financial gap is huge, estimates the Institute for the World Economy. This is having an impact on the already heavily burdened economy.

According to calculations by the Kiel Institute for the World Economy (IFW), financial aid for Ukraine is stalling. "The International Monetary Fund estimates a financial gap of 5 billion euros per month, so since June this corresponds to more than 15 billion euros in external financial aid needed," said IFW Research Director Christoph Trebesch. "Besides weapons, financial aid is becoming increasingly urgent for Ukraine."

According to the IFW, Ukraine has now been promised more than 30 billion euros in aid from the most important donors, but only around 6 billion euros have actually flowed since February. The funds promised by the EU in particular have increased significantly since mid-May. The USA is by far the largest donor.

"The war is causing tax revenues to plummet and at the same time causing enormous costs, such as paying soldiers or repairing essential infrastructure," said Trebesch. The Central Bank of Ukraine is being forced to raise interest rates drastically, which is putting even more strain on the economy. "Another concern is that financial aid from the EU consists almost entirely of loans, leaving a mountain of debt." In contrast, the USA had mainly promised grants that did not have to be repaid.

According to calculations by the IFW, the difference between the weapons promised and those actually delivered is sometimes very high. The USA had already delivered around ten times more weapons to Ukraine than Germany. "Germany has made big promises but has hardly delivered so far," said Trebesch. Only a third of the specifically promised military aid has arrived. Federal Defense Minister Christine Lambrecht assured ZDF that the promised multiple rocket launchers, self-propelled howitzers and anti-aircraft tanks would soon be able to be delivered.

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