Ukraine received a vital sum of $1.34 billion from the World Bank.
The Ukrainian Finance Ministry said on Monday that the funding was paid to support financial and economic stability not related to security. This cash infusion will be welcomed by Kiev, which warns that its ability to defend against a Russian invasion may soon be affected due to delays in funding from the United States and the European Union.
in statementThe Ministry indicated that the financing, which is the sixth additional financing within the framework of the Public Expenditures to Support Administrative Capabilities in Ukraine (PEACE) project, consists of a $1.086 billion loan from the World Bank, a $190 million grant from Norway, and a $50 million grant from the United States. And a grant worth $20 million from Switzerland.
The funds are expected to be used to partially offset non-security and defense expenditures in the Ukrainian state budget, including social payments for the elderly and payments to state emergency service personnel, the ministry added.
Ukrainian Finance Minister Serhiy Marchenko said: “International financial assistance represents a significant contribution to maintaining financial and economic stability in Ukraine and allows us to provide priority social expenditures during the war.”
“Since the beginning of the large-scale invasion, the governments of Japan, the United States, Norway and Switzerland have repeatedly demonstrated their unwavering support and solidarity with Ukraine. I am grateful to our partners for their willingness to cooperate and assist us at a crucial time for Ukraine.”
Financing difficulties for Ukraine
It has been nearly two years since Russia invaded Ukraine, and as the war continues, uncertainty about Western support for Ukraine is growing.
Earlier this month, the White House warned the US Congress that funds for aid to Ukraine would run out by the end of this year, amid Russia’s intensifying campaign to destroy the country’s energy infrastructure.
The United States, Ukraine’s largest donor country, has sent more than $40 billion in aid since the Russian invasion in February 2022. But right-wing Republicans in Congress have expressed growing skepticism about approving more money for Ukraine.
The US Senate has said it will vote on an aid package for Ukraine in 2024. But Congress may continue to withhold funds.
The impasse over US aid to Kiev is mirrored in the European Union, where Hungary is blocking a 50 billion euro ($55 billion) aid package. The federation is scheduled to reconsider this issue in January.
Difficulties securing funds in Washington and Brussels have raised concerns in Kiev that Western backers are suffering from “fatigue” from the long battle, with fighting on the front line faltering.
Ukrainian President Volodymyr Zelensky noted that “Kiev’s foreign policy will be active” with many international activities in January.
“We are doing everything we can to strengthen Ukraine and make sure that everyone is confident about next year, about military aid, macro-financial aid and political support,” he said.
We continue to work with partners to maintain unity in support of Ukraine. With those in Europe, America and around the world who support us, our country and international law.
Our foreign policy will be active in the coming weeks, and we are already planning… pic.twitter.com/YmNta6e5gV
— Volodymyr Zelensky / Volodymyr Zelensky (@ZelenskyyUa) December 15, 2023
Drone attacks continue
Russian attacks on Ukraine continued over Christmas.
The Ukrainian military said on Monday that Russia launched 31 drones and two missiles from the annexed Crimean peninsula overnight.
The military said the attack mostly targeted southern Ukraine. It added that Kiev’s air defenses “destroyed 28 Shahed drones in the regions of Odessa, Kherson, Mykolaiv, Donetsk, Kirovohrad and Khmelnitsky” and also destroyed missiles.
Meanwhile, Russian authorities reported that one person had been killed in a Ukrainian bombing of the Russian-occupied eastern town of Horlivka.
The latest attacks come at a time when Ukraine celebrates Christmas on December 25 for the first time, after President Volodymyr Zelensky signed a law transferring the celebration from January 7, which is celebrated by the Russian Orthodox Church.
In a Christmas Eve speech, Zelensky assured Ukrainians fighting against Russia that “the darkness is disappearing step by step, day by day.”
“Today, this is our common goal, our common dream. This is exactly what our common prayer is for today. For our freedom. For our victory. For Ukraine.”
