The Ministry of Finance of Ukraine and the World Bank have signed a grant agreement for $15 billion from the United States, which Kyiv will receive as part of the PEACE in Ukraine program.
This was reported by the press service of the Ministry of Finance of Ukraine.
The grant agreement is being financed by a US contribution totaling $20 billion under the G7 Extraordinary Revenue Acceleration Loans for Ukraine (ERA). Ukraine has already received the first tranche of $1 billion through the World Bankʼs DPL program.
Money from the PEACE in Ukraine program will go to:
- salaries of healthcare workers, education workers, emergency responders, and civil servants;
- assistance to low-income families, displaced persons, people with disabilities, as well as families with children (during pregnancy and childbirth, at birth, at adoption, single mothers).
The financial mechanism of the G7 member countries, the ERA, worth up to $50 billion, provides that Ukraine will receive this money as a loan, but it will be repaid at the expense of future profits received from frozen Russian assets.