Policy

Ukraine seeking $2B per month from US in emergency economic aid, official says

Ukraine is requesting $2 billion per month from the Biden administration for emergency economic aid efforts, according to Ukraine’s finance minister.

Ukrainian Finance Minister Sergii Marchenko, who is meeting with lawmakers in Washington, D.C., is requesting a total of $5 billion per month in international economic assistance through June — with $2 billion of that coming from American pockets, The Washington Post reported.

Marchenko told the Post that Ukraine needed “to cover this gap right now to attract the necessary finance and win this war.”

Ukraine has been devastated by the Russian invasion, which was launched more than two months ago. The war has reduced at least one city, Mariupol, to rubble and ruptured towns and communities across the country, creating a humanitarian crisis.

The U.S. has already approved billions of dollars of military aid to Ukraine since the invasion, including an $800 million package announced last week.

President Biden in March announced a $500 million economic assistance package. On Thursday, Treasury Secretary Janet Yellen said the U.S. intended to provide another $500 million economic aid package.

Marchenko told the Post that additional economic support was needed for humanitarian needs, including payments for pensions and salaries for Ukrainian officials in the health care and education fields.

Ukraine is expected to face an immense cost for rebuilding its country after the invasion, which would require another round of relief aid.

Tags Economy Emergency aid Russia-Ukraine Sergii Marchenko Ukraine Washington D.C.

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