The World Bank announced on Monday an additional $4.5 billion in aid from the United States to Ukraine to help the government address “urgent needs caused by the war“. This additional aid should, in particular, enable the government and local authorities to cover social, pension or health costs, the World Bank notes.
The US Treasury Department announced that the aid will be provided to the Ukrainian government in installments, with the first $3 billion disbursed this month. “Ukraine needs continued public services, including health, education and social protection, to prevent further deterioration of living conditions and poverty.said the president of the World Bank, David Malpass. “We are grateful to the United States and our partners for their continued support (…) and for the generous grant that will greatly assist the people of Ukraine.“, he added.
US-Russia confrontation in the background
This brings the total amount of emergency financial assistance mobilized by the institution to Ukraine to nearly $13 billion, of which more than $6.3 billion was disbursed by the end of July. “This economic aid is essential to support the Ukrainian people as they defend their democracy in the face of Russian war.Janet Yellen, US Treasury Secretary of Joe Biden, commented.
On Monday, the US Pentagon also announced a new tranche of one billion dollars in military aid to Ukraine. Let’s remind that on February 24 Ukraine was invaded by Russia. And the war, which forced millions of Ukrainians to emigrate, plunged the country into deep recession.
Source: Le Figaro
