The United States Transferred $1.3 billion to Ukraine, London Promised another Billion

World » UKRAINE | June 30, 2022, Thursday // 09:53
Bulgaria: The United States Transferred $1.3 billion to Ukraine, London Promised another Billion

The United States announced late Wednesday that it had transferred a billion in economic aid to Ukraine as part of a total of billion promised to Kyiv in May, BTA reported.

"With this economic aid, we reaffirm our strong commitment to the Ukrainian people at a time when they are defending themselves against Putin's aggression and struggling to sustain their economy," said US Treasury Secretary Janet Yellen.

The billion was transferred to the Ukrainian government through the World Bank and is part of billion in economic aid from the United States under an impressive emergency loan signed by President Biden.

According to the World Bank, the war threatens to reduce the Ukrainian economy by 45% this year. The country's budget deficit is increasing by 5 billion euros a month due to declining revenues and its inability to obtain financing in foreign markets.

The United States, the G7 and the European Union have pledged billion in funding to help the country continue to function.

Britain also announced on Wednesday that it would provide Ukraine with another 1 billion British pounds ($1.2 billion) in military aid, Reuters reported, citing the British government.

The funds are intended to increase Ukraine's defense capabilities, including the supply of air defense systems, drones, new electronic warfare equipment, and equipment for the Ukrainian army.

"British weapons, equipment and training are transforming the Ukrainian defense against this fierce attack. We will continue to stand firm for the Ukrainians to ensure Putin's failure in Ukraine," said British Prime Minister Boris Johnson.

The new funding comes after London announced in May that it would provide an additional £1.3bn in military support and assistance to Ukraine, bringing the total amount of military and economic aid provided by the UK this year to £3.8bn.

In addition, the Ukrainian military began training in Britain after Johnson offered to train up to 10,000 soldiers every 120 days.

Follow Novinite.com on Twitter and Facebook

Write to us at editors@novinite.com

Информирайте се на Български - Novinite.bg

/Dnevnik

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Ukraine » Be a reporter: Write and send your article
Tags: US, Ukraine, Britain, economy
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria