Ukraine to receive EUR 495M more in grant funding from World Bank

Ukraine will receive EUR 495 million more in grant funding from the World Bank’s Trust Fund.

The relevant statement was made by the Ukrainian Finance Ministry, an Ukrinform correspondent reports.

“Ukrainian Finance Minister Sergii Marchenko and World Bank Regional Director for Eastern Europe (Belarus, Moldova and Ukraine) Arup Banerji signed amendments to the Grant Agreement to be awarded to Ukraine from the World Bank Trust Fund under the Second Economic Recovery Development Policy Loan,” the report states.

Under this additional agreement, Ukraine will receive extra grant funds (as part of one grant) from Norway, Austria and the United States in the amount of EUR 495 million.

According to the ministry, these funds will be directed to the general fund of the State Budget of Ukraine to ensure priority social and humanitarian expenditures, healthcare expenditures, and support for internally displaced persons.

A reminder that contributions to the World Bank’s Trust Fund have already been made by such countries as Denmark, Iceland, Latvia, Lithuania, the United Kingdom, Norway, Austria and the United States.

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