Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

USAID chief visits Odesa, unveils $250m for Ukrainian farmers

Published 07/18/2023, 09:09 AM
Updated 07/18/2023, 12:07 PM
© Reuters. FILE PHOTO: United States Agency for International Development Administrator Samantha Power attends a joint press conference with the Head of the State Emergency Service of Ukraine Serhii Kruk during a visit to Ukraine, amid Russia's attack on Ukraine, in

ODESA, Ukraine (Reuters) - U.S. aid chief Samantha Power on Tuesday pledged $250 million in new funding to help Ukrainian farmers reeling from blocked Black Sea grain shipments since Russia's invasion last year.

Moscow on Monday pulled out of a U.N.-brokered deal allowing the safe passage of Ukrainian grain through the Black Sea in a move U.N. Secretary-General Antonio Guterres called "a blow to people in need everywhere".

Speaking in the port of Odesa, Power said the investment, via a USAID initiative focused on Ukraine's agriculture sector, would aim to boost agricultural infrastructure and expand other export routes.

She also called on other governments and the private sector to match the U.S. investment with another $250 million to help farmers "under attack" from Russia's policies and boost Ukraine's economy in the long term.

"We have a collective interest in ensuring that Ukrainian farmers stay in business," Power said during a briefing with Deputy Prime Minister Oleksandr Kubrakov during a visit to the Ukrainian port city of Odesa on Tuesday.

A day earlier, Power visited the State Emergency Services headquarters in the capital Kyiv, where she announced more than $500 million in humanitarian assistance.

© Reuters. FILE PHOTO: United States Agency for International Development Administrator Samantha Power attends a joint press conference with the Head of the State Emergency Service of Ukraine Serhii Kruk during a visit to Ukraine, amid Russia's attack on Ukraine, in Kyiv, Ukraine, July 17, 2023. REUTERS/Alina Smutko/File Photo

She also handed over an additional $2.3 million worth of equipment to help the emergency services agency repair the damage inflicted by Russian forces on Ukraine's critical infrastructure.

Tens of thousands of Ukrainian civilians have been killed and millions have fled their homes since Russia's full scale invasion on Feb. 24, 2022, leading to Europe's biggest land war since World War Two.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.