Ukraine to receive $1.37B for social spending through World Bank

On November 8, the Ministry of Finance of Ukraine and the World Bank signed a grant agreement to raise about $1.37 billion under the PEACE in Ukraine project to finance social and humanitarian expenditures.

The Ministry of Finance announced this on its website, Ukrinform reports.

The document was signed by Minister of Finance of Ukraine Sergii Marchenko and World Bank Country Director for Eastern Eure Bob Saum.

The Project aims to partially compensate for State Budget expenditures, including social and humanitarian expenditures not related to the security and defense sector.

Read also: World Bank announces USD 750M support package for Ukraine – PM

Under the terms of the agreement, Ukraine will receive a $1.35 billion grant from the United States and EUR 10.8 million from the Multi-Donor Trust Fund. The funds will be transferred to the state budget in the coming days.

As reported, since the beginning of the full-scale invasion, the Ministry of Finance has attracted almost $28 billion and more than EUR 1.4 billion in budget support through the PEACE in Ukraine project.

Source: ukrinform.net

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