Espreso. Global

US transfer $1.25 billion grant to Ukraine’s state budget

30 March, 2023 Thursday
13:49

The state budget of Ukraine received grant funds in the amount of $1.25 billion from the United States, which will mainly be used for social payments

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This is reported by the Ministry of Finance of Ukraine.

They noted that the grant funding will be directed to partial reimbursement of State Budget expenditures, in particular to pension payments, support of certain state social assistance programs (aid for IDPs), provision of wages for employees of state agencies, employees of the State Emergency Service, and employees of vocational schools.

The United States provided these funds through the World Bank's Trust Fund as part of the fourth additional financing for the Public Expenditures for Administrative Capacity Endurance (PEACE) project.

Since the beginning of the full-scale invasion, Ukraine has already received 15.5 billion dollar grants from the United States. 

PEACE is a joint project of Ukraine, the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) for a total of 14.9 billion dollars and 1.4 billion euros. It includes IBRD loans, IDA loans, grants from the Trust Fund of many donors.

 
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