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Finance Ministry: Ukraine receives $1.25-billion grant from US

by Martin Fornusek July 31, 2023 3:53 PM 2 min read
Ukraine's Prime Minister Denys Shmyhal and the World Bank's Managing Director Anna Bjerde
Ukraine's Prime Minister Denys Shmyhal and World Bank Managing Director Anna Bjerde on April 12, 2023. (Photo: Prime Minister Denys Shmyhal / Facebook)
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Ukraine received a grant of $1.25 billion from the U.S. through the Multi-Donor Trust Fund of the World Bank, the Finance Ministry announced on July 31.

This is the fifth package provided to Ukraine under the Public Expenditures of Administrative Capacity Endurance (PEACE) in Ukraine, designed to support Ukraine's social and humanitarian expenditures.

In particular, the funding will be used to cover social assistance for internally-displaced persons (IDP), people with disabilities, low-income families, and other social payments.

The ministry noted that in 2023, Ukraine received $8.45 billion in direct budget support from the U.S. Since the start of the full-scale war, Washington has provided Kyiv with $20.4 billion in grant funding, the ministry's press release said.

The PEACE project in Ukraine was established in June 2022 to help the country in supporting around 13 million beneficiaries, including 10 million pensioners, 500,000 education employees, 145,000 government employees, 56,000 emergency workers, and over three million social assistance beneficiaries and IDPs, according to the World Bank.

On June 21, the World Bank announced a tranche of $1.75 billion for emergency assistance to Ukraine under the PEACE project. The package included a $500 million loan from the World Bank guaranteed by the U.K., a $1.25 billion grant from the U.S., and a $15 million grant from Finland.

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