Germany promises Ukraine 200 million euros

Germany promises Ukraine 200 million euros

Germany and the USA have settled their long-standing dispute over the Nord Stream 2 gas pipeline to Russia. The deal envisages major investments in Ukraine.

In the agreement with the USA to resolve the dispute over the Nord Stream 2 gas pipeline, Germany promises Ukraine additional financial aid of 208 million euros. Almost 60 million euros of this will be used for bilateral energy projects in Ukraine, especially in the field of renewable energies and energy efficiency, as stated in the agreement.

In addition, the USA and Germany want to set up a fund with a volume of at least one billion US dollars to finance investments in the energy transition and energy security in Ukraine. Germany will initially pay 175 million US dollars (almost 150 million euros) into the fund, according to the agreement. The exact time frame for the disbursement of the committed funds was initially unclear. The federal government will also “work towards increasing commitments in the coming budget years” for the fund, it said.

However, criticism of the agreement came from Ukraine. From the office of President Volodymyr Selenskyj it was said: “The decision on Nord Stream 2 cannot be made behind the back of all those who threaten the project in real terms.” That could only be clarified at a personal meeting of Zelenskyj with US President Joe Biden. The White House announced that Biden’s meeting with Zelenskyi was planned for the end of August.

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Author: Killian Jones
Graduated From Princeton University.He has been at the USTV since 2017.
Function: Chief-Editor

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