Biden administration moves to forgive $6.3b of loans to Ukraine
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President Joe Biden has ordered officials to rush as much aid to Ukraine as possible before he leaves office on Jan 20 amid concerns President-elect Donald Trump could limit US support.
FILE PHOTO: REUTERS
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WASHINGTON - The Biden administration has moved to forgive about US$4.7 billion (S$6.3 billion) in US loans to Ukraine, State Department spokesperson Matthew Miller said on Nov 20, as outgoing officials seek to do what they can before leaving office to bolster Ukraine in its war against Russia.
A funding Bill passed by the US Congress in April included just over US$9.4 billion of forgivable loans for economic and budgetary support to Ukraine’s government, half of which the president could cancel after Nov 15.
The Bill appropriated a total of US$61 billion to help Ukraine fight the full-scale invasion Moscow launched in February 2022.
“We have taken the step that was outlined in the law to cancel those loans,” Mr Miller told a press briefing, adding that the step was taken in recent days.
Congress could still block the move, Mr Miller said.
The Senate is due to vote later on Nov 20 on a motion of disapproval of loan forgiveness for Ukraine put forward by Republican Senator Rand Paul, a frequent critic of US support for Ukraine. The majority of senators from both parties support aid to Ukraine.
President Joe Biden has ordered officials to rush as much aid to Ukraine as possible before he leaves office on Jan 20 amid concerns President-elect Donald Trump could limit US support. REUTERS
