Finance Minister of Ukraine Serhii Marchenko and World Bank Regional Director for Eastern Europe Bob Saum signed a Grant Agreement for the Bank’s project “Public Expenditures for Administrative Capacity Endurance Project” (PEACE in Ukraine). The amount of funds provided is USD 15 billion.
The Ministry of Finance announced this at the end of December, Ukrainian News Agency reports.
These are funds from the Facilitation of Resources to Invest in Strengthening (F.O.R.T.I.S.) Ukraine Financial Intermediary Fund of the World Bank.
The financing is provided by the US contribution of a total of USD 20 billion within the framework of the G7 Extraordinary Revenue Acceleration Loans for Ukraine (ERA) initiative.
Ukraine has already received the first tranche of USD 1 billion out of USD 20 billion through the World Bank’s Second Growth Foundations Development Policy Loan (DPL).
Funds from the United States under PEACE in Ukraine will be used to:
- pay salaries for healthcare, education, first responders, and civil servants;
- assist low-income families, IDPs, persons with disabilities, and families with children (pregnancy and childbirth, birth, adoption, and single mothers).
The U.S. government has provided funding to the F.O.R.T.I.S. Ukraine FIF through the United States Agency for International Development (USAID) and in coordination with the U.S. Department of the Treasury and the U.S. Department of State.
From 2022 to 2024, direct U.S. budget support to Ukraine exceeded USD 30 billion. These funds helped the Ukrainian Government to ensure the salaries of employees of state institutions that provide basic state services to the population of Ukraine, to support the continuity of the functioning of the state and the financial stability of Ukraine in conditions of full-scale war.
As Ukrainian News Agency earlier reported, on January 20, newly elected US President Donald Trump signed an executive order, according to which all heads of departments and agencies responsible for assistance programs to foreign countries must suspend new commitments and payments until such programs are audited for their effectiveness and compliance with US foreign policy.
Earlier, the National Security and Defense Council denied that Trump's suspension of US international assistance concerns military assistance to Ukraine.
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