On 13 September, Deputy Minister of Finance of Ukraine Olga Zykova signed the Protocol of Negotiations on the attraction of a USD 1.25 billion grant from the U.S. to the State Budget under the World Bank’s PEACE in Ukraine project.
The funds will be directed to support vulnerable groups of the population, as well as those who work to ensure the performance of state functions and the provision of educational and medical services (civil servants, educators, doctors, first responders).
The Deputy Minister of Finance of Ukraine expressed her gratitude to the World Bank for the unprecedented assistance provided to Ukraine since the beginning of the full-scale invasion: “The World Bank’s continued and effective support under the PEACE in Ukraine project has enabled the Government of Ukraine to perform its core state functions at the national and regional levels, including addressing urgent social needs to support the population.”
Thanks to the PEACE in Ukraine project, the Ministry of Finance of Ukraine has attracted grants and loans totalling USD 19.5 billion and EUR 1.44 billion, of which USD 17.97 billion are grants.
In the near future, Ukraine and the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) are expected to sign an agreement on the respective grant from the Multi-Donor Trust Fund and transfer the funds to the State Budget of Ukraine.