Innovation Development Fund To Allocate UAH 175 Million To Support Armed Forces Of Ukraine

The Innovation Development Fund will allocate UAH 175 million to support the Armed Forces of Ukraine.

The Ministry of Finance has said this in a statement, Ukrainian News Agency reports.

Today, on April 5, at a government meeting, the issue of how to use the funds provided in the state budget for the Ministry of Finance of Ukraine to ensure the functioning of the Innovation Development Fund was considered.

The implementation of the resolution will attract additional sources of funding to meet the urgent needs of the State, which were due to the military aggression of the Russian Federation against Ukraine.

The Innovation Development Fund has funds in its accounts that can be raised to finance the State Budget of Ukraine through the acquisition by the Fund of government domestic loan bonds, in particular, war bonds.

The resolution adopted at the government meeting will supplement the procedure for using the funds of the Innovation Development Fund, which will allow using the funds of the Fund for the corresponding needs of the state.

After making appropriate amendments to the Charter, the Innovation Development Fund, in agreement with the Ministry of Finance of Ukraine, will be able to buy government domestic loan bonds worth UAH 175 million.

These funds will be used to finance the State budget and in the future will be allocated to the needs of the security and defense sector of Ukraine.

As Ukrainian News Agency earlier reported, to help the Ukrainian army, the National Bank opened a special multi-currency account.

You can transfer funds both by details and using a payment card.