Page 53 - UKRRptNov23

Early approval of the package, is highly unlikely amid ongoing paralysis in the House of Representatives, which has been unable to elect a new speaker, due to infighting among the Republican majority. the House cannot conduct business until the crisis is resolved.
During a recent address, Biden called upon Congress to unite in support of this substantial aid package, emphasizing the importance of international assistance to Ukraine.
Most of the $61.4bn US President Joe Biden is asking Congress to allocate for Ukraine would be spent on defence, Ukrainian Ambassador to the US Oksana Markarova said. It is planned to allocate $46.1bn to defence expenditures:
● $18bn to replenish defence goods from Pentagon warehouses, reimbursement of costs for defence services, and military education and training provided to Ukraine
● $12bn for the Ukraine Security Assistance Initiative
● $1.7bn for the Foreign Military Financing program of the State
Department for Ukraine and other US partners
● $14.4bn for technical and intelligence support, increasing the volume
of weapon production, cyber security, etc.
This assistance package also includes:
● $11.8bn to provide direct budget support to Ukraine
● $2.2bn to support urgent recovery needs and program development in
Ukraine and other regional countries
German defence ministry concerned about insufficient funds for Ukraine in 2024. The German government has not yet budgeted enough funds to be able to deliver enough military aid to Ukraine in 2024, German media outlet Bild reported on Oct. 22, citing a confidential defence Ministry memo.
A preliminary version of the €50B Ukraine Plan will be presented in November. The Ministry of Economy plans to present the first draft of the Ukraine Plan at the beginning of November and prepare the final version for submission to the EU in December as part of the €50B, four-year financial support plan for the Ukraine Facility. The Ukraine Facility provides for the allocation of €39B in loans with terms up to 35 years and grants for budgetary support and support for the Ukraine Plan, with fund allocation used for the implementation of measures provided for in this document. Another €8B will be used for grants under the Ukrainian Investment Framework to increase the total volume of such funds to approximately €30-40B. Another €2.5B is for grants, technical assistance, and other support measures, including debt service for €39B in loans (€1-1.5B), financing of efforts to bring Russia to justice, and approximately €500M for the administration of the Ukraine Facility program itself. The EU and the US seek to help develop the Ukraine Plan to help bring Ukraine’s EU accession closer.
Ukraine's external financing needs in 2024 are $3B higher than previous estimates. Ukraine has shown outstanding results in the country's economic management during the war, but its needs in external financing in 2024 will be $3B more, and it is necessary to help Ukraine cope with this task, said IMF Director Kristalina Georgieva. "I firmly believe that our investments in Ukraine are not charity. They are investments," she said. According to her, the
53 UKRAINE Country Report November 2023 www.intellinews.com