On November 22, Minister of Finance of Ukraine Sergii Marchenko and World Bank Operations Manager for Eastern Europe Kevin Tomlinson, signed a loan agreement under the World Bank’s Public Expenditures for Administrative Capacity Endurance (PEACE in Ukraine) project.

The agreement envisages a USD 4.8 billion loan financed by the United States and other development partners.

Ukraine expects to receive funding in the near future. The funds will be allocated for priority social budget expenditures.

Given the ongoing challenges of a full-scale war, the Government of Ukraine is taking all necessary measures to attract additional resources for the pressing needs of the Ukrainian citizens.

The US Government provides funding through the United States Agency for International Development (USAID) and in coordination with the US Department of the Treasury and the US Department of State. The funds will be directed to the State Budget of Ukraine through the World Bank’s Public Expenditures for Administrative Capacity Endurance (PEACE) Project. USAID has provided more than USD 28 billion in grant support to the Government of Ukraine through the PEACE Project since 2022.

PEACE in Ukraine project is a key financial instrument of the World Bank for Ukraine that enables international donors to join their efforts in providing rapid and predictable financial support. Since the beginning of russia’s full-scale invasion, more than USD 35,5 billion has been channeled through the PEACE in Ukraine project to finance social budget expenditures.