Germany plans to allocate €5 billion in defense aid to Ukraine annually
14 August, 2023 Ukrainian military personnel during training on Leopard 1 tanks in Germany, May 5, 2023. Photo credits: Reuters Germany has pledged EUR5 billion in annual military aid to Ukraine until 2027.
The German Minister of Finance, Christian Lindner, stated this at a joint press conference with his Ukrainian counterpart, Serhiy Marchenko. Now the German parliament has to approve the decision on financing. To date, Germany has already provided EUR22 billion in financial support to Ukraine, including EUR12 billion in military assistance.
"Ukraine can continue to count on Germany and the international community to support Ukraine. We have already found funds for Ukraine in the amount of EUR22 billion. This is a large amount," Lindner added.
Germany plans to provide EUR5 billion in defense aid to Ukraine annually. Christian Lindner during his visit to Kyiv. Photo credits: Getty Images
The German minister also promised to continue supporting Kyiv in future.
"We know that Ukraine also defends our values, and with them European peace and freedom in general. For the next few years, we have already firmly planned further support for Ukraine in our budget planning," the German Finance Minister assured. Besides, the joint declaration signed by the two ministers provides for the German side to provide advisory support to the Ukrainian side, in particular in the areas of customs policy, financial markets monitoring, management of public investments, and privatization of state-owned enterprises, the press service of the Ukrainian Ministry of Finance reported.
As previously reported, Germany is supplying the Ukrainian army with ammunition, armored vehicles, artillery, air defense and other military equipment. In addition, German company Rheinmetall plans to set up a repair center in Ukraine for German-made equipment used by the Defense Forces of Ukraine.
Rheinmetall. Photo from open sources.
Rheinmetall previously stated that it had created a joint venture with the Ukrainian Ukroboronprom State Concern for the construction and repair of tanks in Ukraine.
Rheinmetall will hold a majority stake of 51% in the new company and will provide management.
The plant will be located on the territory of Ukraine.