Ukraine receives USD 3 billion out of a USD 4.5 billion grant from United States from World Bank Trust Fund

Ukraine has received USD 3 billion of a USD 4.5 billion grant from the United States from the World Bank Trust Fund.

That follows from a statement by the Ministry of Finance, reports Ukrainian News Agency.

This is the first tranche of grant funds of USD 4.5 billion, which were provided by the United States of America through the World Bank Trust Fund as part of the project "Supporting public expenditures to ensure sustainable public administration in Ukraine."

Today, Ukraine is implementing a joint project with the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) "Supporting public expenditures to ensure sustainable public administration in Ukraine" for a total amount of USD 2.79 billion.

In order to further support the state budget, an agreement was reached between the Government of Ukraine and the World Bank to increase the financing of the Project and expand the categories of eligible expenses.

On August 9, 2022, the Minister of Finance of Ukraine Serhii Marchenko and the Regional Director of the World Bank for Eastern Europe (Belarus, Moldova, and Ukraine) Arup Banerji signed the Agreement on the provision of another non-refundable budget support to Ukraine in the form of a USD 4.5 billion grant.

The specified grant funds will be used to provide pension payments and certain programs of state social assistance, such as payment of housing and communal services, support of low-income families, disabled children and disabled from childhood, IDPs, etc.

As reported by Ukrainian News Agency, since the beginning of Russia's open military aggression, the United States of America, with the assistance of the World Bank, has already provided Ukraine with USD 8.5 billion in grant aid.

On August 24, Ukraine celebrates Independence Day.

On Wednesday, President of the United States Joseph Biden announced the provision of a new package of military aid to Ukraine worth almost USD 3 billion.