Ukraine receives EUR 236 million for social payments

Ukraine has secured EUR 236 million in loan financing as part of the World Bank’s Public Expenditures for Administrative Capacity Endurance (PEACE in Ukraine) Project.

This is stated in a press release from the Ministry of Finance, the Ukrainian News agency reports.

The funds were provided by the International Bank for Reconstruction and Development (IBRD) under a guarantee from the Government of the Kingdom of Sweden.

The raised funds are directed to the general fund of the State Budget of Ukraine to cover key social expenditures, which is one of the government’s priorities under martial law.

As the Ukrainian News agency earlier reported, the PEACE in Ukraine project was launched four years ago in response to the russian federation’s full-scale aggression against Ukraine and the urgent need to ensure the country’s financial stability. Its goal is to support the Government of Ukraine in financing social expenditures, public sector salaries, pensions, and the continued provision of medical and educational services.

Under the PEACE in Ukraine project, Ukraine is mobilizing loan and grant resources from international partners and donors. With the arrival of this new funding, the total amount of funds mobilized under the PEACE in Ukraine project has reached nearly USD 53.5 billion.