World Bank allocates $1.34 billion in additional aid to Ukraine
The World Bank announced on Thursday, December 14, the allocation of $1.34 billion in additional financial assistance to ensure the provision of critical public services at the national and regional levels in Ukraine.
This was reported to Ukrinform by the WB press service.
“This additional financing for the PEACE project builds on previous funding and will continue to provide support in key sectors such as health care, education, payment of pensions, social assistance programs, and wages for employees providing core government services”, the statement said.
The financing package consists of a USD 1.086 billion loan from the World Bank, matched by a loan from the Trust Fund for the provision of necessary credit support to Ukraine (ADVANCE Ukraine), supported by the Government of Japan.
The package also includes a $190 million grant from The Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF); a $20 million grant from the Swiss government; and a $50 million grant from the United States government.
The funds will be transferred to the government of Ukraine after the World Bank receives appropriate confirmation of eligible expenditures.
As reported, Ukraine has received more than $22 billion through the World Bank mechanism since the beginning of the full-scale invasion.