• 18/04/2024 20:44

Ukraine received $1.34 billion under a World Bank project

Україна отримала $1,34 мільярда за проєктом Світового банку

Ukraine received $1.34 billion as the sixth additional financing under the World Bank's PEACE in Ukraine project.

As Ukrinform reports, the press service of the Ministry of Finance reported this.

“The financing consists of a World Bank loan of US$1.086 billion through the ADVANCE Ukraine Trust Fund, guaranteed by the Japanese government,” the statement said.

The sixth additional funding for PEACE in Ukraine also contains a grant component: US$190 million from Norway through the Ukraine Recovery, Reconstruction and Reform Trust Fund (URTF), US$50 million from the Government of the United States of America and US$20 million from the Government Switzerland.

The funds will be used to partially compensate for expenses of the state budget of Ukraine not related to the sphere of security and defense, in particular for pension payments and payments to employees of the State Emergency Service (SES).

“International financial assistance is a significant contribution to supporting the financial and economic stability of Ukraine and allows for priority social spending during the war. Since the start of the full-scale invasion, the governments of Japan, the United States, Norway and Switzerland have repeatedly demonstrated their strong support and solidarity for Ukraine. I am grateful to my partners for their willingness to cooperate and help at a crucial time for Ukraine,” emphasized Minister of Finance of Ukraine Sergei Marchenko.

As reported, on December 21, the Ministry of Finance of Ukraine attracted 1.5 billion euros from the European Union to the state budget. This is the last tranche under the large-scale macro-financial assistance program (MFD+) of 18 billion euros for 2023.

Photo: NBU


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