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US provides $1.15 billion in grant funding to Ukraine

by Martin Fornusek October 11, 2023 6:29 PM 1 min read
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Ukraine's state budget has received a $1.15 billion grant from the U.S. via the World Bank's Multi-Donor Trust Fund, Ukraine's Finance Ministry announced on Oct. 11.

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 social support expenditures – namely payments for internally displaced persons (IDP), people with disabilities, and low-income families –  and salaries for state employees.

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.

In 2023, Ukraine has already received $10.9 billion in direct budget support from the U.S. in the form of grants, the ministry said.

Belgium creates $1.8 billion fund for Ukraine by taxing frozen Russian assets
Belgium has created a 1.7 billion euro ($1.8 billion) fund for Ukraine financed by the tax revenue from interest on frozen Russian assets, the country’s Prime Minister Alexander de Croo announced on Oct. 11.
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