KYIV – Samantha Power, the head of the U.S. Agency for International Development, announced $230 million in new funding to support small and medium-sized businesses in war-torn Ukraine. In a speech at Mykhailivska Square in Kyiv, she stated that the aid package would include technical assistance and support for business growth.
“USAID plans to invest $230 million in new resources for Ukrainian businesses,” Power told reporters at the end of her three-day visit. “This commitment is just one of many made by the United States this week for the Ukrainian people.”
Power also visited the Black Sea port of Odesa, where she revealed $250 million in aid for the agricultural sector. Additionally, on Monday, she announced $500 million in humanitarian assistance.
Russia’s invasion has severely impacted Ukraine’s economy, causing a one-third drop in GDP last year. The government aims for modest growth in 2022, but many private businesses struggle with access to affordable capital.
Olena Harmash reporting; Chizu Nomiyama editing
Credit: The Star : News Feed
