Ukraine Will Receive USD 1.5 Billion From World Bank For Salaries Of Civil Servants And Teachers

The World Bank has approved the allocation of USD 1.49 billion to Ukraine for the salaries of civil servants and teachers.

The World Bank has said this in a statement, Ukrainian News Agency reports.

"The World Bank Board of Executive Directors has approved USD 1.49 billion in additional funding for Ukraine under the Public Expenditure Support for Sustainable Governance in Ukraine project. This new funding is part of a support package of more than USD 4 billion that the World Bank is mobilizing, this amount is also more than the previously announced USD 3 billion. Almost USD 2 billion of these funds have already been paid," it says.

Funds from this project will be used to pay salaries to civil servants and teachers.

The project received financial guarantees from the UK, the Netherlands, Lithuania and Latvia; parallel funding from Italy and expected future guarantees including Denmark.

The project is also co-financed by contributions to a new multi-donor trust fund (MDTF) from several countries, including Switzerland.

The World Bank's portfolio of projects in Ukraine supports the improvement of public services that directly benefit ordinary people in areas such as water, sanitation, heating, electricity, energy efficiency, roads, social protection, education, and healthcare.

A recent roadmap published by the World Bank identifies the Bank Group's priority short-term response and proposes a medium-term targeted approach spanning 15 months from April 2022 to June 2023.

Since Ukraine joined the World Bank in 1992, the Bank's commitments to the country have reached almost USD 16 billion in about 90 projects and programs, including the adopted project.

As Ukrainian News Agency reported, on May 2, Ukraine received EUR 495 million in grant funds from the World Bank Trust Fund, and at the end of May, another EUR 504 million.