Ukraine accuses EU countries, including Germany, of blocking funds
August 2, 2022, 7:58 pm

Ukraine accuses EU countries, including Germany, of blocking funds

European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium. (File photo: Reuters)

Ukraine on Tuesday (August 2) accused Germany and other member states of the European Union of blocking the release of funds approved earlier by the bloc as the country faces a financial crisis caused by its war with Russia, the Anews reported, citing the DPA.

Ihor Zhovka, deputy chief of staff in the presidential office, told local media: "We are expecting €8 billion ($8.2 billion), but unfortunately certain EU states, including Germany, are blocking verification of this issue.”

Zhovka said that President Volodomyr Zelensky was conducting "active talks" on the matter.

Zhovka mentioned that Kiev had received €1 billion of the €9 billion in financial aid pledged by the EU in May.

Guarantees from member states may be needed for the remaining funds, according to the European Commission, as securing them through the EU budget is not possible on account of a lack of resources.

Ukraine receives 4 more High Mobility Artillery Rocket Systems from US

Several international ratings agencies downgraded Ukraine's credit rating in July. And the largest state-owned company, Naftogaz, failed to service outstanding foreign debts a week ago, in accordance with to a government directive.

It is worthy to note that Ukraine's need for additional financing has been estimated by the presidential office at almost €50 billion for 2023.

Source: anews

EU signs contract for new Spanish Covid vaccine Nancy Pelosi meets Taiwan President Tsai, angering Beijing

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”