KYIV (Reuters) – U.S. Agency for International Development chief Samantha Power pledged $230 million in new funding on Wednesday to help Ukraine’s small and medium-sized businesses and boost the economy, hit by the war.
Speaking at Mykhailivska Square at the heart of the capital Kyiv, she said that the aid package would include both technical assistance and also support to businesses that seek to grow and expand their operations.
“USAID is going to work with the US Congress to invest $230 million in new resources for Ukrainian businesses,” she told media at the end of her three-day visit to Ukraine.
“This new commitment is just one of many that the United States has made to the Ukrainian people this week.”
A day earlier Power visited the Black Sea port of Odesa in southern Ukraine where she unveiled $250 million in aid to help the Ukrainian agricultural sector. On Monday she announced another $500 million in humanitarian assistance.
Ukraine’s economy was severely hit by Russia’s invasion, shrinking by about a third last year. The government hopes for modest growth this year but access to affordable capital is one of the challenges for many private businesses.
(Reporting by Olena Harmash; Editing by Chizu Nomiyama)
