The administration of President Joe Biden has moved to forgive about $4.7 billion in US loans to Ukraine, State Department spokesperson Matthew Miller said on Wednesday, Reuters reports.
A funding bill passed by the US Congress in April included just over $9.4 billion of forgivable loans for economic and budgetary support to Ukraine’s government, half of which the president could cancel after November 15.
The bill appropriated a total of $61 billion to help Ukraine to fight in the war that had started in February 2022.