Ukrainian economic adviser Oleh Ustenko has requested $50 billion in financial support from the G7 countries to cover the budget deficit created by the military conflict with Russia in a television address on Sunday. He said Kiev is also considering issuing 0% coupon bonds to bridge the fiscal gap.
In the meantime, the World Bank is preparing a $1.5 billion support package for Ukraine. The loan will include a $1-billion payment from the development lender’s fund for the poorest countries. The funding comes on top of about $923 million in fast-disbursing financing approved by the World Bank last month.
The US and NATO have also been sending billions of dollars Ukraine’s way, although in the form of military aid rather than cash. The Biden administration just last week approved yet another $800 million in weapons, ammunition, and other military assistance including artillery systems, rounds, armored personnel carriers, and helicopters. It comes less than a month after Washington sent an $800 million bundle of anti-aircraft systems, firearms, ammo, and body armor Kiev’s way on March 16.