Partners provide Ukraine with UAH 495B to cover priority expenditures over 2022

This is reported by Ukrinform with reference to the press service of the Ministry of Finance.

"Financial support from partners within the framework of the World Bank’s PEACE in Ukraine Project became decisive in ensuring humanitarian and social expenses amid the war. At the same time, responsible utilization of donor funds is an undisputed priority for the Ministry of Finance as the trust of partners is our main asset. Constructive cooperation with the teams of the World Bank and USAID helps us optimize and strengthen the government's monitoring, verification, and reporting systems regarding the use of donor funds," said Minister of Finance Sergii Marchenko.

In total, partners provided Ukraine with $14.5 billion: the United States gave $11.7 billion (in grants); World Bank gave $1.22 billion (in loans); Great Britain gave $1 billion (in credit guarantees); Italy sent $200.5 million (credit); Germany delivered $51.5 million (in grants); Spain gave $50.1 million (in a grant); Finland offered $21.3 million (in a grant); Ireland offered $21.1 million (in  a grant); Switzerland sent $10.3 million (in a grant); Belgium provided $3.1 million (in a grant); Lithuania sent $3.2 million (in a grant); Iceland provided $1.6 million (in a grant); and Denmark gave $30.9 million (in credit guarantees).

According to the project, UAH 495 billion is aimed at financing pensions for more than 9 million pensioners (UAH 199.5 billion); assistance for 1.6 million internally displaced persons (UAH 40.5 billion); utility subsidies for 1.6 million families (UAH 15.9 billion); child birth assistance for 750,000 families (UAH 8.9 billion); salaries for 515,000 medics (UAH 45.2 billion), 503,000 school teachers (UAH 69.9 billion), and 140,000 teachers of higher educational facilities (UAH 18.5 billion).

As reported, the goal of the PEACE Project is partial compensation of state budget expenditures, in particular social and humanitarian costs that are not related to security and defense. The project became the main financial instrument of the World Bank for Ukraine and enabled other international donors to join their efforts in providing quick, targeted, and predictable support.