U.S. sends Ukraine $1.3 billion in emergency economic aid

The Treasury Department on Wednesday announced the delivery of $1.3 billion in economic aid to Ukraine, as the United States seeks to help the beleaguered nation respond to the enormous financial impact of Russia’s invasion.

Ukraine faces a monthly budget deficit of $5 billion and has sustained more than $100 billion in direct damage to its civilian infrastructure alone, according to analysts at the Kyiv School of Economics. The World Bank previously estimated that Ukraine’s economy could contract by as much as 45 percent this year.

The $1.3 billion represents more than double what the United States had previously approved through any prior grant of economic assistance to Ukraine, although the Biden administration has already devoted billions in military assistance to the country as well. Treasury aims to disburse the fully $7.5 billion in economic aid by the end of September.

https://www.msn.com/en-us/news/world/us-sends-ukraine-13-billion-in-emergency-economic-aid/ar-AAZ0WuP?ocid=BingNews