Ukraine's State Budget Receives $1.15 B Grant From US
Date
10/12/2023 12:15:21 AM
(MENAFN- UkrinForm) The Ministry of Finance of Ukraine attracted a $1.15 billion grant from the USA through the World Bank's Multi-Donor Trust Fund.
“The funds are part of the fifth additional financing under the World Bank's Public Expenditure for Administrative Capacity Endurance in Ukraine (PEACE in Ukraine) project,” the press service of the Ministry of Finance of Ukraine informs .
The project aims to partially compensate for State Budget expenditures, including social and humanitarian expenditures which are not related to the security and defence sector.
The grant funding is used to reimburse State Budget expenditures, including payments under certain state social assistance programmes (IDPs, persons with disabilities, low-income families, housing and utility subsidies), payments to the State Emergency Service and salaries to employees of state agencies and educational institutions.
"We are extremely grateful to the U.S. Government for its solidarity and unprecedented support for Ukraine. Since the beginning of the full-scale war, the State Budget of Ukraine has already received USD 22.9 billion from the United States," said Minister of Finance of Ukraine Sergii Marchenko.
As noted, Ukraine received USD 10.9 billion in direct budget support from the United States in the form of grants in 2023.
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