US announces $4.9 billion in reconstruction aid to Kiev
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The US state department says the country will send further aid to Ukraine to rebuild essential infrastructure which the World Bank estimates to cost around $411 billion.
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US and Ukrainian flags fly at a compound for police training outside Kiev, Ukraine, 6 May 2016. (Reuters)
In efforts to build stronger ties with the Ukrainian private sector, the US plans to provide Ukraine with $4.9 billion in aid in September, according to a statement from the US State Department.
"$4.9 billion will become available in September. This funding, along with support from the EU, the IMF, and others, allows the government to provide critical services for its citizens," the State Department said on Friday.
This follows a total of $18 billion in grants given to the Ukrainian government in an attempt to rebuild essential sectors.
Kiev authorities announced a 10-year reconstruction plan that will cost Ukraine around $750 billion.
The Ukrainian plan is almost twice that of the World Bank estimates, which previously estimated the cost of reconstruction to be at $ 411 billion.
Denys Shmyhal, the Prime Minister of Ukraine, said on Thursday that his nation was $14 billion short of the money it urgently required for reconstruction.
The Ukrainian PM hoped that the US would lead the efforts to fundraise the money.
On his visit in early April this year, Germany's Minister of Economy and Energy Robert Habeck announced that he is here to signal to Ukraine “that we believe it (Ukraine) will be victorious, that it will be rebuilt,” adding that Ukraine could be "an economically strong partner in the future."
Read more: Lavrov says West is attempting to create additional fronts for Russia.
