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US Plans to Provide $2.5 Billion in Second Installment of Budget Aid to Ukraine

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US Plans to Provide $2.5 Billion in Second Installment of Budget Aid to Ukraine

(CTN News) – On Tuesday, Ukrainian Prime Minister Denys Shmyhal announced that the United States was planning to provide another $2.5 billion in assistance to Ukraine to help it counter Russian aggression.

This upcoming funding is a portion of the $9.9 billion in aid the United States has promised to the Ukrainian economy for the current fiscal year.

The aforementioned financial help is distinct from military aid. The Prime Minister of Ukraine announced that the International Development Association (IDA) and the International Bank for Reconstruction and Development (IBRD) would provide financial assistance. (IDA).

Why is America sending another $2.5 billion aid package to Ukraine?

According to Shmyhal, the funds would be used to “pay salaries to our rescuers, teachers, and doctors, and to assist pensioners, internally displaced persons, people with disabilities, and low-income families.”

In the meantime, the IMF has pledged a fresh assistance package to Ukraine totaling $15.6 billion. Britain, the World Bank, Germany, Spain, Finland, Ireland, Switzerland, Belgium, Iceland, and Estonia contributed financially to our cause.

To help the 50,000 Ukrainians struggling due to the effects of Russian aggression, Norway has extended its payment scheme, Shmyhal said.

War-torn Ukraine has received the second installment of a guaranteed grant. In the previous fiscal year, the United States contributed $13 billion.

According to a CNN report, Ukrainian Defense Minister Oleksii Reznikov revealed on Tuesday that his country had received British Challenger main battle tanks and other armored vehicles manufactured in the West.

Reznikov wrote on Facebook, “Today, I had the honor to test the newest addition to our armored units together with the commander of the Airborne Forces, Major General Maksym ‘Mike’ Myrhorodskyi, and our paratroopers.”

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Arsi Mughal is a staff writer at CTN News, delivering insightful and engaging content on a wide range of topics. With a knack for clear and concise writing, he crafts articles that resonate with readers. Arsi's pieces are well-researched, informative, and presented in a straightforward manner, making complex subjects accessible to a broad audience. His writing style strikes the perfect balance between professionalism and casual approachability, ensuring an enjoyable reading experience.

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