The White House National Security Council announced on Wednesday that… The United States plans to distribute $10 billion in economic aid to Ukraine by December.
But disbursing an additional $10 billion in military aid requires the approval of US lawmakers.
Officials added that The United States is certain to provide $20 billion in aid For Ukraine, regardless of whether it is divided between economic and military support, or whether it is implemented entirely as economic support.
US Treasury Secretary Janet Yellen spoke optimistically about the planned loan package on Tuesday. According to him, the G7 allies and the European Union are “very close” to finalizing the full Ukrainian loans backed by frozen Russian assets. Proceeds from repaying the loans will come from about $300 billion in reserved and frozen Russian assets, mainly in the European Union.
According to the National Security Council, the United States could finally transfer the entire $20 billion portion of the loan to the World Bank's trust fund next December. The White House is scheduled to hold further talks with Congress in the coming weeks to work out the details.
The United States has already signed loan agreements with Ukraine so that funds can begin to be distributed before the end of the year. According to the National Security Council, more details are expected in the coming days, after the end of the G7 finance ministers’ meeting.
Source: Reuters
Cover image source: Shutterstock
