US announces large-scale aid for Ukraine during Peace Summit
Category
Economics
Publication date

US announces large-scale aid for Ukraine during Peace Summit

The White House
Harris and Biden

Official Washington announced the provision of more than 1.5 billion dollars for the energy sector and humanitarian needs of Ukraine.

Points of attention

  • The aid includes new funding for energy infrastructure repairs, expansion of power generation and investment support.
  • The decision to provide aid was announced by US Vice President Kamala Harris at a meeting with Ukrainian President Volodymyr Zelenskyi.
  • Ukraine will also receive support in the field of civil security and agriculture to provide vital resources.

The US continues to support Ukraine amid the war

US Vice President Kamala Harris announced the new decision of Joe Biden's team during a meeting with Volodymyr Zelenskyi on the sidelines of the Peace Summit in Switzerland.

According to her, the funds will be allocated through the United States Agency for International Development (USAID) and the State Department to support the people of Ukraine.

What is important to understand is that on USAID's part, this includes $500 million in new funding for energy assistance and the redirection of $324 million in previously announced funds for emergency energy needs in Ukraine.

Kyiv will spend the money on repairing energy infrastructure damaged during the war, expanding electricity production, encouraging private sector investment and protecting energy infrastructure.

The White House revealed additional details

Assistance also includes support for comprehensive protection measures, including case management and psychosocial support, as well as assistance in agriculture and livelihoods to enable families to restore income and meet their basic needs, the White House emphasizes.

According to Kamala Harris, the State Department also intends to provide an additional 300 million US dollars to support the civil security of Ukraine to provide vital equipment for Ukrainian border guards and law enforcement officers

It is worth paying attention to the fact that these funds are part of a larger foreign aid package initiated by US President Joe Biden.

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