Ukraine received $1.34 billion from the World Bank
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The State Budget of Ukraine received 1.34 billion US dollars as the sixth additional financing within the framework of the World Bank project “Supporting public expenditures to ensure sustainable public administration in Ukraine” (PEACE in Ukraine), according to the press service of the Ministry of Finance.
“The funds will be directed to partial compensation of the expenses of the state budget of Ukraine not related to the sphere of security and defense, in particular to pension payments and payments to employees of the State Emergency Service (DSNS),” the Ministry of Finance reported.
Financing consists of a loan from the World Bank in the amount of 1.086 billion dollars, which came through the Trust Fund for providing the necessary credit support to Ukraine (ADVANCE Ukraine) under the guarantee of the Japanese government.
The sixth additional financing of the PEACE in Ukraine project also includes a grant component:
- 190 million dollars – from Norway through the Target Fund for Support, Restoration, Reconstruction and Reform of Ukraine (URTF);
- 50 million dollars – from the government of the United States of America;
- 20 million dollars from the Swiss government.
Earlier, on December 14, the World Bank announced the allocation of 1.34 billion dollars of additional financial assistance to ensure critical public services at the national and regional levels in Ukraine.
As reported in the bank’s release, this financing package is provided within the framework of the project “Supporting public expenditures to ensure sustainable public administration in Ukraine (PEACE)”, which is an integral part of the package of international support for Ukraine, aimed at meeting its financial needs in 2024 .
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