The U.S. to Send $4.5 Billion More to Ukraine For Budget Needs
- The United States will provide an additional $4.5 billion to Ukraine's government, bringing its total budgetary support since Russia's February invasion to $8.5 billion, the U.S. Agency for International Development said on Monday, August 8th, 2022.
- 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.
- It follows previous transfers of $1.7 billion in July and $1.3 billion in June, USAID said. Washington has also provided billions of dollars in military and security support. The Pentagon announced a $1 billion arms aid package on Monday, August 8th, 2022. Overall, the United States has contributed more than $18 billion to Ukraine this year.
- The new budgetary funds are to help the Ukrainian government maintain essential functions, including social and financial assistance for the growing poor population, children with disabilities, and millions of internally displaced persons, as the war drags on.
- However, it is important to note that the World Bank estimates that 55% of Ukrainians will be living in poverty by the end of 2023 as a result of the war and the large numbers of displaced persons, compared with 2.5% before the start of the war.