Finance Ministry: Ukraine receives $1.25 billion from US in grant funding
Ukraine received a grant of $1.25 billion from the U.S. through the Multi-Donor Trust Fund of the World Bank, the Finance Ministry reported on Sept. 21.
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 pension payments as well as the salaries of medics, emergency workers, civil servants, and teaching staff.
According to the ministry, Ukraine received $9.7 billion in direct budget support from the U.S. in 2023. Since the start of the full-scale war in February last year, Washington has reportedly supplied Kyiv with $21.7 billion in grant funding.
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"Financial assistance from the U.S. is provided on irrevocable terms, which allows not to increase the debt burden on the state budget. I am grateful to the U.S. government for its solidarity and large-scale support", said Finance Minister Serhii Marchenko.
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.
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