The U.S. Agency for International Development (USAID) announced today that The U.S. Russia Investment Fund (TUSRIF), in partnership with the U.S. Congress, will transfer more than $154 million to support those most impacted by Putin’s war against Ukraine. This will include $135 million to the Western NIS Enterprise Fund to support economic recovery in Ukraine and Moldova, and $18 million to the U.S. Russia Foundation (USRF) to support pro-democracy groups, including Russian civil society and independent media organizations. This transfer underscores continued support for sovereignty, prosperity, and democracy in Eurasia.
The Kremlin’s assault on the Ukrainian people ravaged Ukraine’s economy, which is expected to shrink by over 45 percent this year. Moldova has also been severely impacted by spillovers from the war, including elevated inflation that has driven the costs of living higher. Immediate support to the private sectors in Ukraine and Moldova is critical to strengthening both countries as they defend themselves from Putin’s aggression.
The Western NIS Enterprise Fund, a decades-long USAID partner, has demonstrated capacity to effectively support private sector development in Ukraine and Moldova. With these funds, the USAID partner fund will be positioned to support a resilient private sector, which will create jobs, and help revitalize the agriculture and manufacturing sectors. This support will also help Ukraine and Moldova continue to modernize and grow their economies and pursue their European paths.
The U.S. Russia Foundation stands in solidarity with the brave Russian people who are speaking out against the Kremlin’s full-scale invasion of Ukraine, and will continue its support for Russian independent media, human rights defenders, and civil society, including those who are now in exile. USAID is a proud partner in this effort.