The planned volume of financial assistance from the US for the current year reaches 7.8 billion US dollars.
Almost 3.9 billion US dollars will be received in the Ukrainian budget in the near future. This is the first tranche of direct budget support from the United States in 2024.
This was reported by the Ministry of Finance of Ukraine.
Minister of Finance of Ukraine Serhiy Marchenko and World Bank Regional Director for Eastern Europe (Belarus, Moldova and Ukraine) Bob Som signed the corresponding Agreement.
Marchenko, commenting on the agreement, noted that the effective work of the government, together with significant support from international partners, makes it possible to ensure the stability of the financial system in the conditions of a full-scale war in the Russian Federation. And he added that the planned volume of financial assistance from the United States for the current year reaches 7.8 billion US dollars.
“Grateful to the United States and the World Bank team for their cooperation, which resulted in the mobilization of critical resources This is necessary and timely funding to maintain the liquidity of the state budget,” he emphasized.
According to the ministry, the funds will be used topayment of salaries to teachers, emergency response service employees (SES), government employees, as well as to support priority social expenditures (payment of benefits to internally displaced persons, low-income families and persons with disabilities).
The funds will be provided through the Public Expenditure Support for Sustainable Governance in Ukraine (PEACE in Ukraine) project. The project is the World Bank's key financial instrument for helping Ukraine. The Ministry of Finance recalled that since the beginning of Russia's full-scale invasion, it has been uniting the efforts of foreign donors to provide critical support to the Government of Ukraine.
Through the PEACE in Ukraine project, more than US$25 billion have already been attracted to the state budget for June 2022. This agreement will increase the amount of budget support to almost 30 billion US dollars, of which more than 80% are funds from the United States.
Recall that the head of the Rada Budget Committee warns that in 2 months the military may be left without salaries.
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