Ukraine Secures $11 Billion Debt Relief Deal

In August 2024, Ukraine received approximately USD 8.4 billion in external financing, primarily from the European Union and the United States, which included USD 5.5 billion in grants. This funding is crucial for supporting public services, such as salaries for teachers and emergency services. Additionally, Ukraine has negotiated significant debt relief, with over 95% of Eurobond holders agreeing to restructure debts, providing savings of USD 11.4 billion over the next three years. The restructuring will facilitate the allocation of funds to the military amid ongoing conflict with Russia. U.S. military support has not only bolstered Ukraine's defense but has also revitalized the American defense industry. Since the onset of the war, international assistance to Ukraine has totaled around USD 99 billion.