Ukrainian Prime Minister Denys Shmyhal announced additional aid of $1.7 billion to assist the cash-strapped Government in Kyiv for humanitarian purposes. Since the beginning of the war, the already financially-struggling Government has been under pressure to meet its current commitments, but the additional, unforeseen cost of the war has far exceeded the financial strain that Ukraine itself can sustain.
Last month, a USAID report indicated that prosecuting the war against the Russian military was costing Kyiv $5-7 billion dollars per month.
The Single Donor Trust Fund, which is financed as a consortium between the United States Agency for International Development (USAID), the International Development Association (IDA), and the International Bank for Reconstruction and Development (IBRD), will remit the awarded money in the near term. The Prime Minister acknowledged that this additional service was another show of “very significant support” from Kyiv’s allies in Washington.
Since Russia launched its full-scale invasion at the end of February 2022, Ukraine has been the recipient of multiple aid packages from the United States which has included substantial support for both humanitarian and security objectives.
According to a statement published by the Pentagon on July 5, the US has supplied $6.9 billion of security aid to Kyiv since February 24. In addition, Washington promised $820 million in additional security assistance, which includes “the authorization of a Presidential Drawdown of security assistance valued at up to $50 million, as well as $770 million in Ukraine Security Assistance Initiative (USAI) funds.”
Over the weekend, US Secretary of State Anthony Blinken wrote on Twitter that “Our commitment to the people of Ukraine is resolute. The United States is providing nearly $368 million in additional humanitarian aid to support people inside Ukraine and refugees forced to flee their country to seek safety in the midst of Russia’s brutal war.”
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