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Disbursement of $1.3 billion in US economic aid to Ukraine

2022-06-29T23:20:39.208Z

The US Treasury announced Wednesday, June 29 the transfer of a tranche of $ 1.3 billion in economic aid to Ukraine, as part of a...



The US Treasury announced Wednesday, June 29 the transfer of a tranche of $ 1.3 billion in economic aid to Ukraine, as part of an initial support of $ 7.5 billion promised to Kyiv by the Biden government in May.

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"With this economic assistance, we reaffirm our strong commitment to the people of Ukraine as they defend themselves against Putin's aggression and work to support their economy

," Treasury Secretary Janet Yellen said in a statement. communicated.

This 1.3 billion is transferred to the Ukrainian government via the World Bank and is part of a volume of economic aid of 7.5 billion dollars from the United States under a large emergency credit signed by President Joe Biden.

According to World Bank estimates, Russia's war in Ukraine is likely to lead to a 45% contraction in the Ukrainian economy in 2022.

The country is experiencing a budget deficit that is widening by $5 billion a month, given the decline in its revenues and its inability to access financing on external markets.

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International donors have stepped up to help Ukraine.

Thus, explains the Treasury, the G7 and the European Union have committed to financing 29.6 billion dollars to kyiv, including 8.5 billion dollars of American aid.

In April and May, Washington disbursed two $500 million grants from the World Bank vector to meet the country's imminent needs

"after its unprovoked and unjustified invasion by Russia"

, says the US Treasury Department. .

In May, the US Congress passed the Ukraine Supplementary Appropriations Act, allowing the United States to provide $7.5 billion in direct economic assistance to the Ukrainian government.

Moreover, Washington has already provided kyiv with more than six billion dollars of military equipment since the beginning of the Russian invasion.

Source: lefigaro

All business articles on 2022-06-29

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