In the near future, Ukraine will receive a $3.9 billion grant from the United States. The Minister of Finance of Ukraine Serhii Marchenko and the Regional Director of the World Bank for Eastern Europe Bob Som signed the relevant agreement.
The press service of the Ministry of Finance writes about it.
The money will be used to pay salaries to teachers, employees of the State Emergency Service, employees of state bodies, as well as to support priority social expenses (payments to internally displaced persons, low-income families and people with disabilities).
This is the first tranche of direct budget support from the United States in 2024. The planned volume of financial aid from the US for the current year reaches $7.8 billion.
The funds will come through the project "Supporting public expenditures to ensure sustainable public administration in Ukraine" (PEACE in Ukraine). The project is a key financial instrument of the World Bank for assistance to Ukraine.
Through the PEACE in Ukraine project, more than $25 billion has already been attracted to the state budget since June 2022. This agreement will increase the amount of budget support within the project to almost $30 billion, of which more than 80% will come from the United States.