Page 51 - UKRRptOct23

The IFC has invested $400M in Ukraine's economy since the beginning of the war and is considering investments in the energy sector. The International Finance Corporation (IFC) has invested $400M into the Ukrainian private sector since the start of the full-scale war, said Olena Voloshina, head of the IFC in Ukraine. According to her, the IFC did not invest in energy because of market opacity, monopolization, constant changes in rules and policies, tariff policies, etc. The IFC is considering investment options in renewable energy, extraction, and storage. In December, the IFC Board of Directors approved $2B, half financed by the financial corporation, and the rest negotiated with donors. "We are supported by the British government precisely in financing energy projects," explained Voloshina. Among other things, the IFC has assumed the function of a strategic advisor to the Ukrainian government on the issue of private sector involvement. According to IFC analysis, the company can finance 20% of Ukraine's recovery needs, which total $400B.
US senators have approved giving Ukraine more than $6.1B before adopting a new budget. On September 26, the US Senate voted to consider a short-term budget resolution designed to prevent the US federal government from shutting down starting October 1, when the country begins a new fiscal year. The resolution would provide 45 days of funding for the US government until November 17. The document allocates $4.499B for defense expenditures and $1.65B for economic support (particularly direct budgetary support) for Ukraine. It is noted that this is less than the White House requested. In August, US President Joe Biden submitted to Congress a request for $24B by the end of the year. Congress must approve the budget proposal by the end of September, at least in the short term. Otherwise, there will be a shutdown. The country's new fiscal year begins on October 1, and if funding is not agreed upon by that date, the federal government will be forced to shut down.
The US announces a $325M security aid package for Ukraine, while Warsaw is winding down armed support for Kyiv. US President Joe Biden will announce a $325M military aid package to Ukraine during the visit of President Volodymyr Zelenskyy to Washington. The aid package will include a second tranche of cluster munitions for the 155 mm gun. However, Ukraine will not receive ATACMS missiles yet. Instead, Washington plans to send more Avenger short-range air defense systems that use Stinger missiles. The aid package will include TOW and AT4 anti-tank weapons, GMLRS for the High Mobility Artillery Missile Systems (HIMARS), and Javelin anti-tank missiles. Meanwhile, the Polish Prime Minister has announced that Poland is ending its supply of weapons to Kyiv and is instead focusing on its own armaments. At the same time, the spokesman of the Polish government, Piotr Muller, clarified that the country will continue supplies under existing contracts.
The US Congress has found a compromise to finance aid to Ukraine. A bipartisan group of lawmakers in the US House of Representatives announced that they had agreed to a framework for legislation providing temporary funds that would allow continued aid to Ukraine beyond October 1, 2023, Reuters writes. Members of the Resolution Group released a statement saying the group voted in favor of a temporary funding measure that will last until January 11, 2024. The interim funding to support the federal government also approves President Joe Biden's request for a new round of emergency funding for Ukraine. At the same time, the White House on Wednesday asked Congress to approve financing additional support for Ukraine. Also, White House
51 UKRAINE Country Report October 2023 www.intellinews.com