U.S. Treasury Secretary Janet L. Yellen emphasized support for Ukraine amid the Russian aggression, aligning with a $3.3 billion supplemental funding request for 2024, aimed at security, economic and humanitarian aid. She expressed the importance of providing Ukraine with the resources needed to maintain vital services in the wake of Russian hostilities, according to an Aug. 10 news release.
"Sustaining our direct budget support helps reinforce Ukraine's brave resistance and mitigate the consequences of Russia's brutal war by providing the Government of Ukraine with the resources it needs to deliver essential services, such as healthcare, education and funding for emergency first responders including after Russian air strikes," Yellen said in the release.
The Office of Management and Budget addressed a letter to Speaker of the House of Representatives Kevin McCarthy, emphasizing the administration's intentions to focus on three core areas: investing in American communities, reducing costs for working families and fostering economic growth.
The proposed financing includes support to expand development and infrastructure finance as an alternative to financing from the People's Republic of China in developing nations, the letter said.
This request incorporates the authorization to lend to International Monetary Fund trust funds, potentially unlocking up to $21 billion in transparent lending. An extra $200 million is designated to combat destabilizing activities by Russian malign actors in African nations, the letter reported.
The administration is highlighting several significant areas of focus, including strengthening commitments in the Indo-Pacific region by reinforcing alliances and partnerships. There is also $12 billion requested for disaster relief and support for wildland firefighters, the letter said.
Nearly $800 million is sought for improved border control, specifically targeting the reduction in the influx of fentanyl and protection of migrant children from exploitation, according to the letter. The funding request also urges Congress to support agreements with the Federated States of Micronesia, the Republic of the Marshall Islands and the Republic of Palau, recognizing their strategic importance.