Ukraine receives $3B in grant aid from U.S.
This was reported by the press service of the Ministry of Finance, according to Ukrinform.
"The funds raised will allow us to preserve effective and stable functioning of the Ukrainian public administration system, as well as continued provision of salaries, as well as social and pension payments in the conditions of the ongoing fight against the aggressor," said the head of the Ministry of Finance, Serhiy Marchenko.
In general, since Russia unleashed its aggression against Ukraine, the United States, with the assistance of the World Bank, has already provided Ukraine with $8.5 billion in grant aid.
As reported, a joint project is being implemented in Ukraine, jointly with the International Bank for Reconstruction and Development and the International Development Association, entitled “Public Expenditures for Administrative Capacity Endurance (PEACE) in Ukraine,” worth $2.79 billion.
In order to further support the state budget, the Government of Ukraine and the World Bank reached an agreement on increasing the Project’s financing and expanding the categories of eligible expenses. On August 9, 2022, an agreement was signed to provide Ukraine with another non-refundable budget support package in the form of a $4.5 billion grant.
The specified grant funds will be allocated for pension payments and certain social assistance programs, including for covering utility bills, support of low-income families, children with disabilities, IDPs, etc.
