In Presence of Minister of Foreign Affairs and Head of President of Ukraine’s Office, Saudi Arabia, Ukraine Sign Agreement and MoU Worth $400 Million

Kyiv-- In an implementation of the Kingdom of Saudi Arabia's announcement on October 15, 2022, during a phone call between His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, the Crown Prince and the Prime Minister, and President Volodymyr Zelenskyy of Ukraine, to provide an additional humanitarian aid package to Ukraine worth $400 million, Prince Faisal bin Farhan bin Abdullah, Minister of Foreign Affairs, and Andriy Yermak, Head of the Office of the President of Ukraine, today, attended the signing ceremony of an agreement and a memorandum of understanding (MoU) between the Kingdom and Ukraine, with a total value of up to $400 million.

The agreement includes a joint cooperation program for providing humanitarian assistance from the Kingdom to Ukraine worth $100 million, co-signed by the Advisor at the Royal Court and Supervisor General of King Salman Humanitarian Aid and Relief Center (KSrelief) Dr. Abdullah bin Abdulaziz Al Rabeeah and the Ukrainian Deputy Prime Minister for Restoration of Ukraine and Minister for Communities, Territories and Infrastructure Development of Ukraine, Oleksandr Kubrakov.

The MoU also includes financing of $300 million worth of oil derivatives as a grant from the government of the Kingdom of Saudi Arabia through the Saudi Fund for Development (SFD) in favour of Ukraine. It was signed by the CEO of SFD, Sultan bin Abdulrahman Al-Marshad and the Minister of Energy of Ukraine, German Galushchenko.

The signing of the agreement and the MoU reflects the Kingdom of Saudi Arabia's commitment to supporting Ukraine and its people in facing the social and economic challenges that the country is going through and contributing to alleviating the effects resulting from it.

Source: Saudi Press Agency

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