Ukraine received the sixth additional financing for partial compensation of state budget expenditures. The funds, in particular, will be directed to pension payments and payments to the State Emergency Service employees.
The World Bank allocated another international aid to Ukraine
As noted, the financing consists of a loan from the World Bank in the amount of 1.086 billion dollars, which came through the Advancing Needed Credit Enhancement for Ukraine (ADVANCE Ukraine) under the guarantee of the Japanese government.
The sixth additional financing of the PEACE in Ukraine project also includes a grant component:
$190 million from Norway through the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF);
50 million from the US government;
$20 million from the Swiss government.
The funds will be directed to partial compensation of expenses of the state budget of Ukraine not related to the sphere of security and defence, particularly to pension payments and payments to the State Emergency Service employees.
What is known about 50 billion euros for Ukraine
The European Commission proposed increasing the expected budget of the EU by €66 billion to cover expenses for the next four years, part of which will go to Ukraine's financial support for €50 billion.
On October 3, the European Parliament supported the initiative, which provides for the creation of the Ukrainian Fund — a new financial instrument for Ukraine with a volume of up to 50 billion euros from 2024 to 2027.
On November 30, European Budget Commissioner Johannes Hahn said the EU agreed on a financial aid package for Ukraine worth 50 billion euros.
On February 1, 2024, an extraordinary summit of the European Commission will be held, at which the allocation of €50 billion for Ukraine for four years as part of the Ukraine Facility program will be discussed.
