Ukraine to receive nearly $8 billion in direct budget support from US by November, ambassador says
Ukraine will receive $7.9 billion in direct support to the state budget by November this year, part of the $61 billion aid package passed by the U.S. Congress in April, Ukrainian ambassador to the U.S., Oksana Markarova, said on July 26.
After months of political infighting and a deteriorating situation on the battlefield in Ukraine, the U.S. House of Representatives finally passed the crucial foreign aid package on April 20, which included $60.84 billion in support for Ukraine.
The $7.9 billion in direct budget aid from the package will be transferred to Ukraine “in the near future,” while the rest will be received by the end of October, Markarova said.
“That is, by the end of October, all budget aid funds will be received and used by Ukraine,” Markarova added.
Markarova was referring to direct economic support to Ukraine’s state budget, which will help Kyiv keep essential public services running. The economic assistance takes the form of a loan that can be forgiven by the U.S. president.
According to Prime Minister Denys Shmyhal, Ukraine has received at least $12 billion in external financing since the beginning of the year to help the Ukrainian government address its budget deficit.
In an address to the World Bank and International Monetary Fund forum last October, Shmyhal noted that Ukraine would require nearly $42 billion in economic assistance in 2024 to offset the deficit.
These funds are crucial for financing state-provided services like healthcare, salaries for medical workers and teachers, and social programs.
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