Biden admin to send additional $4.5 BILLION to Ukraine

Post Millennial – by Roberto Wakerell-Cruz

The Biden White House will provide Ukraine with an additional $4.5 billion, increasing the total budgetary support sent to the country since February’s invasion by Russia to nearly $60 billion. These new funds will go directly to Ukraine’s government.

According to Reuters, the US Agency for International Development made the announcement on Monday: “The funding, coordinated with the U.S. Treasury Department through the World Bank, will go to the Ukraine government in tranches, beginning with a $3 billion disbursement in August, USAID, the Agency for International Development, said,” they report.

Transfer payments of $1.7 billion in July and $1.3 billion in June were already made earlier this year. Billions were also provided in military support, and a $1 billion weapons package is expected to make its way in the near future.

Ukrainian officials say that they face a $5-billion-a-month fiscal shortfall due to the war. The World Bank estimates that over half of Ukrainians willl be living in poverty by the end of 2023.

The Biden White House approved $54 billion to be sent to Ukraine earlier this year.

Post Millennial

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