US announces over $440 million in economic aid for Ukraine
The United States will provide Ukraine with over $440 million in aid for key sectors of its economy, Richard Verma, U.S. Special Representative for Ukraine's Economic Recovery, announced on Dec. 12.
The announcement comes as outgoing U.S. President Joe Biden aims to ramp up support for Ukraine before President-elect Donald Trump takes power in January.
The economic aid package is comprised of four key parts, including $223 million to rebuild transportation, infrastructure, and logistics, Verma announced in a social media post.
Another $105 million will be used to train Ukrainians for "tomorrow's jobs" in reconstruction and industry, while $74.7 million will support Ukraine's agriculture sector.
A further $35 million is allocated for the "Project Preparation Facility," which aims to increase and accelerate upcoming construction projects.
The White House on Dec. 12 also announced a new weapons package of an unspecified amount for Ukraine. The assistance will include air defense, armored vehicles, and artillery.
Verma took the role of U.S Special Representative for Ukraine's Economic Recovery in August after the previous representative, Penny Pritzker, stepped down.
Ukraine relies heavily on economic aid from Western partners to keep the country running amid Russia's full-scale invasion of Ukraine. The International Monetary Fund (IMF) predicted in April 2024 that Ukraine would need over $40 billion in external financing this year.
The U.S., EU and other Western partners agreed in 2024 to furnish Ukraine with a loan totaling $50 billion, to be repaid with revenue from frozen Russian assets. Details of the loan agreements are currently being finalized.
Tim Zadorozhnyy
Related posts:
Ukraine war latest: Trump hints he won't 'abandon' Kyiv but opposes Ukraine launching US missiles inside Russia
Ukraine war latest: Russian An-72 military transport plane damaged in blast near Moscow, Ukraine's intel claims
How will Russia's war in Ukraine end? The good, the bad, and the ugly scenarios
Harris or Trump — Ukraine braces for best, worst-case scenarios as US elects new president
Ukraine builds a bridge to Trumpland
Ukraine war latest: Russia sets goal to fully occupy 4 Ukrainian regions in 2025
Woodward revelations deepen debate on whether Trump will sell out Ukraine to Kremlin
Precarious road to Republican US support of Ukraine runs through evangelicals
About The Author
