U.S. allocates $500M contribution to support countries affected by Russia’s war
This is said in a press release published on the website of the U.S. Department of the Treasury, Ukrinform reports.
“This contribution reaffirms our support for the people of Ukraine as they defend their country from Russia’s unprovoked and unjustifiable war,” said Assistant Secretary for International Trade and Development Alexia Latortue.
According to the U.S. Department of the Treasury, this funding will support immediate crisis response mainly in Ukraine, including: energy security needs; food security, including vital infrastructure in transport and logistics as well as direct finance to farmers and exporters; and support for vulnerable populations and internally displaced persons.
It is noted that the U.S. contribution will leverage at least $1 billion in EBRD investments that will help restore economic activity through risk sharing instruments and by mobilizing other donors. This funding will also support technical assistance grants to support small and medium businesses, improve the business environment, and mitigate risks of food and energy insecurity.
The U.S. Department of the Treasury added that this contribution comes as part of the $40 billion package of support for Ukraine that was signed into law by President Biden in May.
