The State Budget of Ukraine has received a tranche of USD 485 million under the World Bank’s Public Expenditures for Administrative Capacity Endurance (PEACE in Ukraine) Project.
This is indicated in a statement by the Ministry of Finance, the Ukrainian News agency reports.
The funds received:
- USD 465 million – direct budget support from the United States for the current year;
- USD 20 million from the World Bank through the Multi-Donor Trust Fund for Co-financing of the PEACE in Ukraine Project.
Funding within the framework of the PEACE in Ukraine is aimed at compensating social and humanitarian expenditures of the state budget. The funds raised will help ensure payments of assistance to internally displaced persons and persons with disabilities.
From 2022 to 2024, direct budget support to Ukraine from the U.S. exceeded USD 30 billion. Provided through the United States Agency for International Development (USAID) in coordination with the U.S. Department of the Treasury and the U.S. Department of State, the funding helped the Ukrainian Government ensure the salaries of employees of state institutions that provide essential public services to the population of Ukraine, support the continuity of the functioning of the state and the financial stability of Ukraine in conditions of full-scale war.
Together with the USAID SOERA project and DBS Audit Activity, the use of financial assistance from the U.S. Government is being monitored, and with the auditing company PriceWaterhouseCoopers Ukraine, an audit is being carried out according to agreed procedures to determine the allowable public expenditures incurred by Ukraine within the framework of the PEACE in Ukraine Project.
As the Ukrainian News agency earlier reported, Ukraine received the first USD 1 billion from the United States, secured by proceeds from frozen russian assets.
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