Ukraine to receive $4.5B grant from World Bank - agreement signed

Ukraine to receive $4.5B grant from World Bank - agreement signed

Ukrinform
Minister of Finance Serhiy Marchenko and Regional Director of the World Bank for Eastern Europe (Belarus, Moldova and Ukraine) Arup Banerjee signed an agreement to provide Ukraine with a grant in the amount of $4.5 billion.

This is reported by the Government portal, Ukrinform saw.

The specified grant funds were provided by the United States of America and sent to the Trust Fund of multiple donors as the third additional financing within the framework of the project "Supporting public expenditures to ensure sustainable public administration in Ukraine."

"We are grateful to the government of the United States of America and the World Bank team for their long-term cooperation, financial support and solidarity with Ukraine. These grant funds are another significant contribution to the financing of urgent needs for our country. This will allow us to continue to ensure the payment of salaries, social aid and pensions, and assistance for internally displaced persons in the conditions of repelling the aggressor," Marchenko said during the signing of the agreement.

Read also: Biden announces allocation of $400M in new security assistance to Ukraine

Raised grant funds from the Trust Fund in the amount of $4.5 billion will be directed to provide pension payments and certain programs of state social assistance, such as payment of housing and utility services, support of low-income families, disabled children, IDPs, as well as payment of medical services under the medical guarantee program, etc.

Today, Ukraine is implementing a joint project with the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) "Supporting public expenditures to ensure sustainable public administration in Ukraine" worth a total of $6.3 billion and EUR 1.441 billion, including a $5.8 billion grant. These funds are aimed at reimbursing state budget expenditures made to ensure the wages of employees of state bodies and budgetary institutions in the field of education, provision of pension payments and certain programs of state social assistance, as well as payment of medical services under the health care guarantee program at both the national and regional levels.


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