Ukraine told the European Union on Monday that the EU needs to increase the pace at which it provides billions of euros in promised aid.
Kyiv has become incredibly reliant on Western aid to fund its government, but Ukrainian officials seem to have little patience when it comes to the timeline of deliveries. A Ukrainian official told Politico that delays were “not acceptable.”
“Our minister of finance is under extreme high pressure, when he sends these checks to the military, to pension funds … we have to have this money in his hands. So something like one week or several weeks’ delay is just not acceptable,” said Oleg Ustenko, an economic advisor to Ukrainian President Volodymyr Zelensky.
The EU signed a memorandum of understanding on Monday, saying it would provide Ukraine with €5 billion in long-term loans. The funds are part of €9 billion in loans that the EU promised Ukraine back in May, but so far, only €1 billion has been delivered.
The US has been funding Ukraine’s government by providing direct budgetary aid and is pushing its allies to do more. Washington is eyeing a plan to give Ukraine about $1.5 billion per month and the EU is expected to provide a similar amount. Ukraine is also looking to get other funds from the IMF to make up for its expected deficit of about $3.5 billion each month.