Trump offers to cut this year's U.S. foreign aid by 21 percent

Source : 112 Ukraine

This won't hurt Ukraine's interests, as the volume of the aid for this country will remain the same
09:32, 10 February 2020

Time Magazine

U.S. leader Donald Trump stands for cutting down the size of assistance supplied to other countries by 21 percent, Reuters wrote.

"Trump will seek to make a 21% cut in foreign aid in the proposal, which seeks $44.1 billion in the upcoming fiscal year compared with $55.7 billion enacted in the fiscal year 2020", as White House official said.

According to him, the aid supplied to Ukraine would remain the same as it was in 2020, despite the new offer.

At the same time, Trump is apparently managing to get the funds to counter the growing economic threats by Russia and China. The U.S. leader would "request an increase in funding for the U.S. International Development Finance Corporation (DFC) to $700 million compared to $150 million the previous year," the interlocutor said as quoted.

Related: Trump wishes to improve relations with Russian Federation

According to the outlet, the DFC "was formed in large part to counter China’s growing economic influence. It serves as a development bank that partners with the private sector to provide loans in developing countries. It also serves as an alternative financing option to what the United States sees as predatory practices from China."

Related: Trump to double spending on artificial intelligence and quantum research, - media

Система Orphus

If you find an error, highlight the desired text and press Ctrl + Enter, to tell about it

see more