The US and Ukraine are working on the necessary conditions for the return of economic aid.

US and Ukraine are working on the provision of economic aid, US Ambassador Bridget Brink and USAID Deputy Administrator Isobel Coleman told reporters.

According to the law on aid to Ukraine passed at the end of April, the American president must conclude an agreement with the Ukrainian government on the return of economic aid within 45 days. These regulations relate to direct budget support of $7.85B and funds that Ukraine can receive from the $1.57B provided for assistance to Ukraine and war-affected regions.

Coleman doesn’t refer to this as a credit. “It’s not a loan. It’s structured as an agreement that may have some repayment options,” she said.

At the same time, Brink noted that the US is now conducting negotiations with Ukraine after they have familiarized themselves with the details of the wording of the law. This legislation provides that the US president can write off half of Ukraine’s debt for economic aid after November 1, 2024, and 100% after January 1, 2026.