The proceeds of “huge” donations in Ukraine in support of the army

On Saturday, the Ukrainian government revealed a “huge” proceeds of remittances in just 24 hours, from citizens in the national currency there.

According to data announced by the Deputy Prime Minister and Minister of Digital Transformation of Ukraine Mikhail Fedorov, remittances from citizens to support the needs of the army amounted to 200 million hryvnia, equivalent to more than six million dollars, in less than 24 hours.

From the first day of the war, Ukrainians have called on the country’s authorities to allow them to use the money they received for vaccinations against the Corona virus for the needs of the army, under a special electronic support program.

On Thursday, the National Ukrainian Bank agreed to open a special account in order to collect donations.

The Ukrainian government had earlier launched a program through which citizens would receive a subsidy of one thousand hryvnia (approximately $ 35) for holders of a certificate of vaccination against the Corona virus, so that anyone with a certificate of vaccination could register and receive this support, and spend the money on books, culture and sports and concerts, to support these industries, and the elderly can spend them on medicines and utilities.

With the value of donations of more than six million dollars recorded on the first day, this means that about 200,000 people donated to the army the money they previously obtained under that program.

The bank took special measures in the wake of the start of the Russian invasion, including limiting daily cash withdrawals to 100,000 Ukrainian hryvnia (about $3,339.13), and banning foreign exchange for citizens.
The recently launched Donation Account, as announced by the National Bank of Ukraine, is a multi-currency account that receives donations from international partners in US dollars, euros and British pounds.

It also receives donations from Ukrainian citizens, companies and institutions in the national currency, the hryvna.

On Friday, the Ukrainian authorities requested emergency funding from the International Monetary Fund, the Director-General of the International Monetary Fund, Kristalina Georgieva, announced in a statement.

In light of the threats of the previous war, Ukrainians have withdrawn up to 5 percent of their money deposited in banks since the beginning of this year 2022, according to a statement issued a few days ago by the National Bank of Ukraine.

The Ukrainian national currency fell to its lowest level in seven years, a few days ago, after the Russian recognition of the republics of Lugansk and Donetsk.

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