United States to provide nearly $5B more in budget support to Ukraine

The United States has provided $18 billion in budget support to Ukraine through World Bank mechanisms, with nearly $5 billion more to become available in September.

“The United States has provided $18 billion in budget support to the Government of Ukraine through World Bank mechanisms. An additional $4.9 billion will become available in September.  This funding, along with support from the EU, the IMF and others, allows the government to provide critical services for its citizens while fighting Russia’s brutal aggression,” reads the statement released on the website of the U.S. Department of State.

As reported, Prime Minister of Ukraine Denys Shmyhal was on a working visit to Washington, D.C. on April 12-14. Shmyhal took part in the annual Spring Meetings of the World Bank Group and the International Monetary Fund and met with U.S. Secretary of Defense Lloyd James Austin III, U.S. Secretary of Commerce Gina Raimondo, U.S. Secretary of the Treasury Janet Yellen, and the management of the IMF, the World Bank, and the European Investment Bank.

The G7 finance ministers, following the negotiations within the framework of the Spring Meetings, pledged additional support to the tune of more than $5 billion to Ukraine. In particular, additional support packages will be provided by France, Germany, and Great Britain.

It also became known that the World Bank disburses an additional $200 million to Ukraine for energy restoration. Prime Minister Shmyhal signed a relevant agreement with World Bank Vice President for Europe and Central Asia Anna Bjerde in Washington, D.C.

Earlier, Lithuania pledged to allocate 10 million euros for the recovery of Ukraine through a special mechanism created by the World Bank to finance the rebuilding of Ukraine and increasing the stability and development of Moldova.