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The U.S. has provided Ukraine with another $1.25 billion in budget support under the World Bank’s PEACE project, Ukrainian Prime Minister Denys Shmyhal said on May 31.
The funds will be used to finance Ukraine’s social and humanitarian expenses, Shmyhal added.
The Public Expenditures for Administrative Capacity Endurance (PEACE) project aims to partially compensate Ukraine’s expenditures unrelated to security and defense.
It helps Kyiv finance pensions, social assistance to people with low income and children with disabilities, wages to medical and emergency workers, grants to internally displaced persons, etc.
According to the Finance Ministry, Ukraine has received 14.5 billion from international donors under the PEACE project.
Oleksii Vitchenko: A call to invest in Ukraine’s tech sector
I’ve had many talks with investors and foreign entrepreneurs throughout the last year. And the sentiment that I kept hearing was that IT in Ukraine should not be an investment priority because there are more important industries in need of restoration in Ukraine. But that’s precisely the point.
Oleksii Vitchenko
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