According to the head of the Ministry of Finance, Serhiy Marchenko, an agreement was signed between him and the World Bank's regional director for Eastern European countries, Bob Som, on the allocation of a grant to Ukraine within the framework of the Project "Supporting public expenditures to ensure sustainable public administration in Ukraine."
Points of attention
- Ukraine is set to receive a grant exceeding 1.3 billion dollars from the World Bank to cover state budget expenses and social programs.
- The grant aims to support public expenditures for sustainable public administration in Ukraine, excluding defense-related spending, and involves Ukraine in the PEACE in Ukraine Project.
- President Zelenskyi announced plans for a winter aid package for Ukrainians, with new decisions expected to be presented in November for support during the winter period.
- The grant agreement with the World Bank provides for involvement in a tranche within the framework of the PEACE in Ukraine Project, along with support from the United States and the European Union.
- The Ministry of Finance has expressed gratitude for the crucial financial support, emphasizing the significance of these funds for priority social spending in Ukraine.
What is known about the grant to Ukraine from the World Bank
According to the Ministry of Finance, the project is aimed at partial coverage of state budget expenditures, including the implementation of social and humanitarian programs not related to the defense sphere.
The grant agreement provides for the involvement of Ukraine in a tranche within the framework of the PEACE in Ukraine Project.
1.35 billion US dollars — a grant from the United States of America;
10.8 million euros — funds from the Trust Fund of many donors for co-financing the Second Loan Program for development policy in the field of economic recovery for Ukraine.
Representatives of the Ministry of Finance note that the funds will reach the budget of Ukraine in the coming days.
I am grateful to the Government of the United States, partner countries, and the World Bank team for their crucial financial support and partnership at a crucial time for Ukraine. The raised funds will be a significant contribution to ensuring priority social expenditures of the state budget of Ukraine, Marchenko noted.
Since the beginning of the full-scale invasion, thanks to the PEACE in Ukraine project, the Ministry of Finance has already attracted almost 28 billion US dollars and more than 1.4 billion euros of budget support.
What is known about the winter aid package for Ukrainians from the state
Head of State Volodymyr Zelenskyi announced that citizens of Ukraine will receive a package of aid for the winter period.
According to the president, the Cabinet of Ministers of Ukraine is currently preparing new decisions, in particular for the winter support package for Ukrainians.
Volodymyr Zelenskyi officially confirmed that they intend to present them already in November.
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