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Ministry: Ukraine receives $1.25 billion grant from US
Ukraine has received grant funds worth $1.25 billion from the U.S., the country’s Financial Ministry reported on April 28.
The money will be used for paying pensions and salaries to Ukrainian emergency and healthcare workers, and social payments, including payments for the internally displaced persons, according to the ministry.
In total, the U.S. has provided Ukraine with $16.7 billion in the form of grants since the beginning of the full-scale invasion on Feb. 24, 2022, the ministry said.
“Partnership with the U.S. and the World Bank during the war allows the Ukrainian government to finance priority social expenditures fully. At the same time, aid in the form of grants does not increase the debt burden and contributes to stabilizing the financial system,” said Finance Minister Serhii Marchenko.
The ministry also said the grant was provided through the World Bank's Trust Fund “as part of the fourth additional funding for the Public Expenditures for Administrative Capacity Endurance (PEACE) Project.”
Earlier in March, the World Bank increased its assessment of Ukraine's needs for recovery and reconstruction to at least $411 billion based on the damages caused by the first year of Russia's all-out war.
This figure is equivalent to 2.6 times Ukraine's projected gross domestic product in 2022, according to Bloomberg.