Ukraine asks U.S. for $2B per month in emergency economic aid

Ukraine asks U.S. for $2B per month in emergency economic aid

Ukraine is asking the Biden administration to provide at least $2 billion per month in emergency economic aid, arguing that failure to deliver the money could exacerbate the humanitarian crisis caused by Russia's invasion.

That's according to The Washington Post, Ukrinform reports.

Appearing in Washington for meetings with senior U.S. officials, Ukrainian Finance Minister Serhii Marchenko said that the country is seeking a total of at least $5 billion per month in international assistance — with about $2 billion of it coming from the United States — to cover the country's immediate needs for April, May and June. Beyond these billions in aid, an additional longer-term request is expected in the future to help Ukraine recover from what is estimated to be far greater damage from the war.

According to Marchenko, because of the war, the Ukrainian government can currently only raise tax revenue worth 54 percent of its expenses — a figure that excludes military costs.

Marchenko said Ukraine is seeking the economic support to continue to pay for pensions, salaries for health care and education officials, and other humanitarian needs.

Earlier, the Senate passed a bill allocating $14 billion to Ukraine.

Treasury Secretary Janet L. Yellen told reporters on April 21 that the administration is working on sending Congress an additional request for aid to Ukraine, but she declined to say how much.

"We were inspired by their courage and stand with them and will do everything we can to pull our resources to support the needs that are identified," she said.

While citing and using any materials on the Internet, links to the website not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website and the website of a foreign media outlet. Materials marked as "Advertisement" or with a disclaimer reading "The material has been posted in accordance with Part 3 of Article 9 of the Law of Ukraine "On Advertising" No. 270/96-VR of July 3, 1996 and the Law of Ukraine "On the Media" No. 2849-Х of March 31, 2023 and on the basis of an agreement/invoice.

© 2015-2024 Ukrinform. All rights reserved.

Extended searchHide extended search
By period: