US to allocate $440 million for Ukraine's recovery and economic support

The US will allocate $440 million for a number of projects to support Ukraine. Illustrative photo: AP

The United States plans to allocate more than $440 million to support and rebuild Ukraine. Half of this money will go to modernizing the transportation system, infrastructure, and logistics.

This was stated by US Deputy Secretary of State Richard Verma, reports European Truth.

In particular, $223 million is intended for the restoration of Ukrainian transport infrastructure, modernization of checkpoints on the border with the EU, renovation of Black Sea and Danube ports, as well as border railway sections. To strengthen Ukraine's ability to export goods to the European Union.

Also, $105 million is earmarked for training and retraining Ukrainians for future jobs in the state's recovery and industry.

$74.7 million will be allocated to develop export-oriented agriculture and support farmers and processors to involve them in the country's economic recovery.

In addition, $35 million will be directed to the Ukraine Recovery Trust Fund to establish cooperation between the public and private sectors in the reconstruction process.

We remind you that the European Investment Bank provided over 60 million euros in loans under EU guarantees for the restoration of a section of the MO1 road and investments in public transport in Kyiv, Odesa, and Sumy.