The state budget of Ukraine received part of the grant in the amount of USD 3 billion. This is the first tranche of grant funds of USD 4.5 billion, which were provided by the United States of America through the Trust Fund of the World Bank as part of the project Public Expenditures for Administrative Capacity Endurance (PEACE) in Ukraine.
“We are grateful to the USA and the World Bank team for such strong support for Ukraine. This grant is great news for our country on Independence Day. The funds will allow maintaining the effectiveness and stability of the functioning of the Ukrainian public administration system, and to ensure the payment of wages, social and pension spending during the war against the aggressor”, noted Minister of Finance Sergii Marchenko.
Ukraine is implementing a joint project with the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) Public Expenditures for Administrative Capacity Endurance (PEACE) in Ukraine for a total amount of USD 2.79 billion.
Then, the agreement to increase the funding of the Project and expand the categories of eligible expenses was reached between the Government of Ukraine and the World Bank to further support the state budget. On August 9, 2022, Minister of Finance Sergii Marchenko and World Bank Regional Country Director for Eastern Europe (Belarus, Moldova and Ukraine) Arup Banerji signed the Agreement on the provision of the non-refundable budget support to Ukraine of USD 4.5 billion grant.
The grant will be used to provide pension payments and programs of state social assistance, such as payment of housing and communal services, support of low-income families, children with a disability and disabled from childhood, IDPs, etc.
Since the beginning of Russia’s launched military aggression, the United States of America with the assistance of the World Bank has already provided Ukraine with USD 8.5 billion grant support.