FEATURES OF FUNDING AND GRANT ACTIVITIES UNDER MARTIAL LOW

Keywords: Ukraine, foreign aid, international support, international partners, state budget, financial sector, budget financing

Abstract

The full-scale russian invasion of Ukraine in February 2022 has caused a humanitarian crisis and has had a significant impact on the Ukrainian economy. The war has inflicted a catastrophic blow on Ukraine's economy, with GDP plummeting by nearly 30% and vital infrastructure shattered. Without sustained support, rebuilding and recovery will remain a distant dream. The window for effective intervention is rapidly closing, and the consequences of inaction could be dire for both Ukraine and the international order. Also, in the context of a full-scale war for independence against the russian federation, it would be difficult for Ukraine to survive and maintain economic stability without military, financial and humanitarian assistance from the states of the civilized world. The article analyzes and summarizes international assistance to Ukraine since the beginning of russia's full-scale invasion in 2022. Attention is drawn to the importance of this assistance for ensuring Ukraine's financial stability, helping people affected by the war, and continuing resistance to the war of aggression. Data on the amount of aid provided by different countries of the world is provided. Both individual countries and the European Union are studied. The assistance is also analyzed and classified by type, highlighting military, humanitarian and financial aid. The percentage of funding for Ukraine as a percentage of the donor country's total GDP is calculated, and a chart is presented showing the percentage of each country's funding for Ukraine. The assistance has been provided by a wide range of countries, including the United States, the European Union, and Japan. The international community should continue to provide assistance to Ukraine, even as the war drags on. The United States should approve the $50 billion aid package that it has proposed. The European Union should also approve a significant aid package for Ukraine. In addition to providing financial assistance, the international community should also work to help Ukraine to rebuild its economy and society after the war. This will require a long-term commitment from the international community.

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Article views: 19
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Published
2024-01-30
How to Cite
Samoday, V., Mashyna, Y., & Zhylnikov, O. (2024). FEATURES OF FUNDING AND GRANT ACTIVITIES UNDER MARTIAL LOW. Economy and Society, (59). https://doi.org/10.32782/2524-0072/2024-59-6
Section
ECONOMICS