US, global partners help Ukraine cross $100 billion in direct budget aid

Ukraine has received a $1.35 billion grant from the United States, marking a significant contribution to the country's financial stability amidst the ongoing conflict.

This grant is part of a broader international effort, with total direct budget financing surpassing $100 billion since the start of the war, Caliber.Az reports referring to Ukranian media.

The funds are primarily allocated to cover priority social and humanitarian expenses, including ensuring that teachers' salaries are paid. For 2024, the US has committed a total of $7.8 billion in budget support to Ukraine, of which $5.2 billion has already been mobilized.

The US government has channelled this funding through the US Agency for International Development (USAID) and coordinated it with the US Department of the Treasury and the Department of State. The funds were transferred to Ukraine's State Budget under the World Bank's Public Expenditure Support for Sustainable Governance in Ukraine (PEACE in Ukraine) project.

Since the onset of the war in February 2022, the US has provided a total of $28.2 billion in direct budget support to Ukraine, making it the largest financial contributor to Ukraine globally.

According to Ukraine's Minister of Finance, Serhiy Marchenko, this ongoing partnership is crucial for maintaining the country’s financial stability and enabling the government to continue delivering essential services, including education and emergency response.

In addition to the US grant, Ukraine also secured €10.8 million from the Multi-Donor Trust Fund to co-finance the Second Development Policy Loan Programme for Economic Recovery. On November 13, international direct financing for Ukraine’s budget exceeded $100 billion. This milestone was confirmed by Yaroslav Zheleznyak, the first deputy head of the Committee on Finance, Tax, and Customs Policy.

Additionally, on October 23, Ukraine received a $1.1 billion tranche from the International Monetary Fund (IMF) to further support its financial recovery.

By Tamilla Hasanova