In January-February 2024, the general fund of the state budget of Ukraine received about $1.2 billion in external funding. Grant funds provided on non-repayable terms accounted for almost 75% of the total financial assistance. This was reported by the press service of the Ministry of Finance.
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Donors
Among donors:
- Japan – $901 million (concessional financing and grants); Norway – $295 million (grant); Spain – $3 million (concessional financing).
It is noted that all funds for the first two months of 2024 went to the state budget through World Bank projects.
Japan provided:
- a grant in the amount of $465 million within the framework of the project “Supporting Public Expenditures to Ensure Sustainable Public Administration in Ukraine” (PEACE in Ukraine), a soft loan in the amount of $297 million through the project “Investing in Social Protection to Improve Coverage, Sustainability and Efficiency” (INSPIRE) , a grant in the amount of $89.8 million through the Emergency Project for Providing Inclusive Support for the Recovery of Agriculture in Ukraine (ARISE), a grant in the amount of $49.4 million through the Housing Repair to Restore People's Rights and Opportunities (HOPE) project.
Norway provided $295 million in grant funding as part of the PEACE in Ukraine project.
$3 million in Spanish-guaranteed loans were raised through the Strengthening Health Care and Saving Lives (HEAL) project Ukraine).
Where are the funds sent?
International assistance is used to finance priority social expenditures of the state budget, in particular, ensuring wages for workers sectors of education and healthcare, employees of the State Emergency Service, pension payments, humanitarian needs, as well as ensuring social protection of the population.
Assistance in March
It is expected that in March 2024 the state budget of Ukraine will receive financial assistance from the European Union, Japan and the United Kingdom, as well as from the IMF for the successful third revision of the cooperation program, which must be approved by the Executive Board of the Fund.