Europe

Home page

Europe

Ukraine receives $1.25B in US grant

31 July 2023 19:50 (UTC +04:00)

The state budget of Ukraine received a grant of $1.25 billion from the United States through the World Bank's Multi-Donor Trust Fund, APA reports citing Ukrinform.

According to Ukrinform, Ukraine's Ministry of Finance reported this.

"In 2023, Ukraine has already received $8.45 billion in direct budget support grants from the United States. Since Russia's full-scale war, the state budget of Ukraine has already received $20.4 billion in grants from the U.S.," the statement said.

The grant was provided as part of the fifth additional funding under the Public Expenditures for Administrative Capacity Endurance (PEACE) Project. The aim of the project is to partially compensate for state budget expenditures, including social and humanitarian expenditures not related to security and defense.

The grant funding will be used to reimburse state budget expenditures, in particular, to pay salaries to government employees and payments under certain state social assistance programs (IDPs, people with disabilities, low-income families, housing and utility subsidies) and other social benefits.