The Joe Biden administration has decided to provide Ukraine with $4.9 billion in budget assistance through World Bank mechanisms, the State Department said.

Washington previously approved the transfer of $18 billion for these purposes.

“This funding, along with support from the EU, the International Monetary Fund, and other organizations, will allow the government to provide essential services to its citizens,” the State Department said in a statement. At the same time, the agency believes that the scale of funding needed for Ukraine’s recovery can be achieved “only in close cooperation with the private sector to stimulate investment.”