The World Bank has announced the provision of additional grant financing to Ukraine in the amount of USD 2.5 billion. This is stated on the official portal of the financial institution.
“The grant provides direct support to Ukraine’s budget under the World Bank’s Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) Project, to maintain essential services and core government functions amid the on-going war. The funds, provided by the United States Agency for International Development (USAID), will be transmitted to the Government of Ukraine after appropriate verification of eligible expenditures are made by the World Bank,” the text of the document of the World Bank says.
At the same time, the institution reports that this additional financing package to the PEACE project builds on previous grants and will support key sectors, including health care, schools, payment of pensions, payments for internally displaced people, social assistance programs, and wages for employees providing core government services.
Meanwhile, World Bank Group President David Malpass announced further support for Ukraine's people. According to him, the World Bank has provided Ukraine with USD 20.6 billion in financial assistance since the beginning of the pandemic.
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