Ukraine has received a $3.9 billion non-repayable grant from the United States via the World Bank, announced Ukrainian Prime Minister Denys Shmyhal. This funding is designated for priority budget expenditures including salaries for teachers, staff of the State Emergency Service, and other public employees, as well as aid for displaced persons, low-income families, and people with disabilities.
The full-scale Russian invasion continues to strain Ukraine’s economy and business sectors, making foreign aid crucial in supporting the country’s war effort and economic stability.
“This is the first tranche of direct budget support from the United States in 2024,” stated Shmyhal on Telegram. “In total, Ukraine will receive $7.8 billion in direct budgetary assistance from the United States this year, which will allow us to confidently pass this financial period.”
Ukrainian Finance Minister Serhii Marchenko further detailed that the grant would support the government in covering priority social and humanitarian expenditures without increasing the national debt, as per Reuters.
Since February 2022, the direct budget support from the United States has reached nearly $27 billion. According to Marchenko, the grant is part of a $60 billion support package for Ukraine, approved by the US in April.
Related:
- Ukrainian PM warns of ‘third world war’ if Russia prevails
- The way forward for Ukraine’s economy
- UK intel: Ukraine’s economy remains resilient two years into Russian invasion
- US announces $1.7 billion security package for Ukraine
- US miscalculation in defense item valuation yields $2 bn more for Ukraine aid
- Trump threatens swift end to Ukraine aid if reelected