The United States has approved a $500 million financial aid package for Ukraine, to help the latter’s government to continue paying salaries, pensions and providing services.
The assistance follows $800 million in U.S. military aid that went to Ukraine in early April and $13.6 billion in military and humanitarian aid for Ukraine that was authorized in March.
Ukrainian Prime Minister Denys Shmyhal says his government needs $5 billion a month just to continue operations amid the devastation of the nation’s economy.
Last month, the International Monetary Fund (IMF) approved another $1.4 billion of emergency funding for Ukraine, to help meet urgent spending needs and mitigate the economic impact of Russia’s military invasion.
The Fund’s managing director Kristalina Georgieva said the funds were to be disbursed under the Fund’s Rapid Financing Instrument (RFI). This means it will largely come without conditions that are usually placed on borrower countries.
The IMF has warned of economic devastation both in Ukraine and abroad from the war.
See Also:
