The Ukrainian Ministry of Finance has announced today that it has received a $1.15 billion grant from the United States through the Multidonor Trust Fund of the World Bank.
According to a statement from the Ministry, these funds are part of the fifth additional financing under the World Bank’s project to strengthen Ukraine’s administrative capabilities and promote peace in the country.
The statement further explains that the project aims to partially offset state budget expenditures, including social and humanitarian expenses unrelated to the security and defense sector.
The grant funding will be used to compensate for state budget expenditures, which include payments under various government social assistance programs (such as improving the conditions of internally displaced persons, persons with disabilities, low-income families, housing subsidies, and public utilities), as well as payments made to government emergency services, salaries of state agency employees, and educational institutions.
Commenting on the grant, Ukrainian Finance Minister Serhiy Marchenko said, “We are extremely grateful to the United States government for their unprecedented solidarity and support for Ukraine… Since the beginning of the comprehensive war, the Ukrainian state budget has already received $22.9 billion from the United States.”
This significant grant from the United States comes at a crucial time for Ukraine, as the country continues to deal with various challenges, including ongoing conflict and economic recovery. It underscores the commitment of the international community to support Ukraine’s efforts to rebuild and stabilize its economy and society.
