Business news from Ukraine

US PROVIDES $155 MLN TO SUPPORT UKRAINE’S DEVELOPMENT

20 April , 2021  

The United States announced that it will provide $155 million in additional development funding to Ukraine through the U.S. Agency for International Development (USAID) to improve the lives of the Ukrainian people, the U.S. Embassy in Ukraine said on Tuesday.
“The additional resources will be used to address key development challenges in Ukraine, including: support economic growth and improve health of Ukrainians some $34 million; enhance anti-corruption efforts some $14 million; counter Russian aggression some $63 million; strengthen democracy and governance some $44 million,” the embassy said in the statement.
The first article provides support of Ukraine’s recovery from coronavirus (COVID-19) pandemic by improving essential health services; improvement of transparency and expansion of economic opportunities in energy, agriculture and finance to increase investor confidence, attract investment and improve economic investment in the agrarian sector.
Enhancing anti-corruption measures includes strengthening reforms and safeguard anti-corruption institutions to counter entrenched interests and ensure all of Ukraine’s resources benefit the Ukrainian people; reducing corrupt practices in the health sector and facilitate Ukraine’s purchases of vital medicines to reduce informal payments by patients and provide access to less expensive, quality medicines; supporting the continued development of online e-government platforms that simplify access to services and streamline how Ukrainians receive their pensions, unemployment benefits, and more.
Countering Russian aggression are planned to be used to human rights and ensure access to justice for the Ukrainians affected by Kremlin-backed aggression in the Crimea and Donbas; reduce Ukraine’s energy and economic dependence on Russia by advancing connections to Europe’s energy grid and strengthening businesses in the East; expand citizen access to high-quality, unbiased information to counter malign influence and disinformation, support European integration, and strengthen democratic processes.
Strengthening democracy and governance involves expanding judicial reform; strengthening consolidated communities and expand quality service provision to their residents to advance Ukraine’s decentralization reform efforts; encouraging youth leadership and innovation.

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