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Finance Ministry: Ukraine receives $1.25 billion from US in grant funding

by Dinara Khalilova and The Kyiv Independent news desk September 21, 2023 1:29 PM 2 min read
The World Bank Group headquarters in Washington, DC, US, on Tuesday, Sept. 27, 2022. (Samuel Corum/Bloomberg via Getty Images)
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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 reported on Sept. 21.

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

In particular, the funding will be used to cover pension payments as well as the salaries of medics, emergency workers, civil servants, and teaching staff.

According to the ministry, Ukraine received $9.7 billion in direct budget support from the U.S. in 2023. Since the start of the full-scale war in February last year, Washington has reportedly supplied Kyiv with $21.7 billion in grant funding.

Yaroslav Zhelezniak: Ukraine’s economy weekly, Sept. 18
Editor’s Note: The following is the first issue of “Ukraine’s economy weekly,” a weekly digest by Yaroslav Zhelezniak, the first deputy head of the parliamentary committee for finance, tax, and custom policy. The opinions expressed in the op-ed section are those of the authors and do not purport

"Financial assistance from the U.S. is provided on irrevocable terms, which allows not to increase the debt burden on the state budget. I am grateful to the U.S. government for its solidarity and large-scale support", said Finance Minister Serhii Marchenko.

The PEACE project in Ukraine was established in June 2022 to help the country in supporting around 13 million beneficiaries.

Those include 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.

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