Russia-Ukraine War: United States announces additional USD 1.7 billion aid to Ukraine

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Washington:The United States on Tuesday announced an additional USD 1.7 billion to Ukraine. The package will be provided for the delivery of essential services, including healthcare. Washington will contribute the amount through the US International Development (USAID) in coordination with the US Department of the Treasury.

The USAID, in a press release, said that the package was part of US President Joe Biden’s commitment to Ukrainian President Volodymyr Zelenskyy to provide the war-torn country with direct budgetary aid.

“This latest contribution of economic assistance for Ukraine is part of President Biden’s commitment to supporting the Government of Ukraine as it defends Ukraine’s democracy against Russia‘s unprovoked and unjustifiable war,” reported news agency AFP quoting Treasury Secretary Janet Yellen as saying.
Also Read: Russia-Ukraine war: US announces additional USD 400 million in military assistance to war-torn country
The amount is part of the USD 7.5 billion aid package signed by Biden in May this year. As per the World Bank, due to the Russian invasion, Ukraine’s economy is expected to contract by up to 45 percent in 2022. There is a budget deficit in Ukraine that is growing by USD five billion every month, reported AFP.
After the Russian invasion, Ukraine’s western allies announced several packages to boot its economy. As per the US Treasury Department, the G7 and the European Union have also announced commitments to providing USD 29.6 billion in money for Ukraine, with the US providing USD 8.5 billion of the total amount.
Russia invaded Ukraine on February 24. Russian forces are trying to consolidate their position in the Donbas region of eastern Ukraine, comprising the separatist republics of Donetsk and Luhansk. Moscow claimed to have taken complete control of Luhansk province. The fighting has intensified in Donetsk.