Biden to ask Congress for $60bn in Ukraine aid- report
US President Joe Biden. Photo: EPA

The White House will ask Congress for a supplemental funding request for around USD 100 billion, including for assistance for Ukraine in its fight against Russia’s full-scale invasion, NBC News reported.

For in-depth analysis and longer stories, follow us on LinkedIn

The funding package is likely to seek USD 60 billion for Ukraine, a lawmaker and two sources with knowledge of the request told the publication.

The rest of the request will include roughly USD 40 billion to provide aid to Israel, Taiwan, and the US-Mexico border, the sources added.

The Biden administration is expected to formally submit the USD 100 billion supplemental request Friday, per NBC News.

Additional funding will be earmarked for the entire fiscal year, which ends next September, and will have to be approved by both houses of Congress.

Due to political strife, the United States entered the new fiscal year, beginning from 1 October, without approved federal appropriations but instead with a temporary, 45 days’ funding that did not include new aid for Ukraine.

The aid is needed not only for military packages but also for financial support, which mostly sustains social payments.

Ukraine hopes for USD 12 to 14 billion in US financial aid next year, with the total external financial needs at USD 32 billion, according to the International Monetary Fund.