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Germany will provide Ukraine with $5.5 billion in annual military aid, Forbes Ukraine reported on Monday, citing German Finance Minister Christian Lindner.
During his first official visit to Kiev since the start of the military conflict, the official revealed that Berlin will bankroll €5 billion ($5.45 billion) per year to the country until at least 2027, the outlet said.
Sealing the funding program, Ukraine’s Finance Minister Sergey Marchenko and Lindner signed a memorandum of cooperation between Kiev and Berlin, aimed at boosting the Ukrainian budget in the next few years.
The decision has yet to be approved by the German Parliament, Lindner said, during a joint press conference with Ukrainian Finance Minister Sergey Marchenko.
Under the agreement, Germany is also expected to provide advisory assistance to Kiev in customs policy, financial-market monitoring, state investment management, and the privatization of state enterprises.
Berlin will support Kiev “as much as needed,” the politician affirmed, adding that his country has already injected €22 billion ($24 billion) in financial backing into Ukraine, including €12 billion worth of military aid.