Ukraine collects USD3.9B US grant to support budget amid current war
(MENAFN) Ukrainian Prime Minister Denys Shmyhal announced on Monday that Ukraine has received a substantial USD3.9 billion grant from the United States through the World Bank. This grant represents the first tranche of direct budget support from the U.S. for 2024, with Ukraine set to receive a total of USD7.8 billion in direct budget assistance from the U.S. this year. Shmyhal emphasized that this financial aid will enable Ukraine to navigate the current fiscal period with greater confidence.
The Ukrainian Finance Ministry elaborated that these funds will be allocated towards salaries for teachers, state emergency management staff, and other government employees. Additionally, the grant will provide essential support to displaced individuals, low-income families, and people with disabilities.
Finance Minister Serhiy Marchenko highlighted the critical role of this grant in helping the Ukrainian government cover priority social and humanitarian expenses without exacerbating the national debt burden. Since February 2022, the United States has provided approximately USD27 billion in direct budget support to Ukraine, making it the largest source of financial aid the country has received. This recent grant is part of a broader USD60 billion support package for Ukraine.
The substantial financial assistance underscores the ongoing commitment of the United States to support Ukraine amid its ongoing conflict and economic challenges, ensuring that essential services and humanitarian needs are met during this turbulent period.
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