(Washington) The United States will provide a new installment of economic assistance to Ukraine in the amount of 1.7 billion dollars, announced Tuesday the American Secretary of the Treasury Janet Yellen.
“This latest contribution of economic aid to Ukraine is part of President Biden’s commitment to support the Ukrainian government as it defends Ukraine’s democracy against the unprovoked and unjustifiable war of Russia,” Janet Yellen said in a statement.
This new tranche is transferred to the Ukrainian government via the World Bank and is part of a volume of economic aid of 7.5 billion dollars from the United States, promised to Kyiv in May.
The payment announced on Tuesday brings to $4 billion the economic aid provided by the United States to Ukraine since the beginning of the conflict.
In April and May, Washington had paid two aids of 500 million dollars each, via the World Bank, which helped “Ukraine to support [ses] critical needs”. These two aids did not fall within the framework of the 7.5 billion promised by Joe Biden in May.
At the end of June, a first tranche of 1.3 billion dollars out of these 7.5 billion had been released.
“The United States intends to disburse the last 4.5 billion […] before the end of September,” the US Treasury said in its statement.
Ukraine’s budget deficit is widening by $5 billion a month, due to shrinking revenues and its inability to access financing from external markets.
International donors have stepped up to help Ukraine. Thus, explains the American Treasury, the G7 and the European Union have undertaken to pay Kyiv financing in the amount of 29.6 billion dollars, including 8.5 billion in American aid.