The World Bank has announced the allocation of USD 1.34 billion of additional financial assistance to ensure the provision of critical public services at the national and regional levels in Ukraine.
This follows from a statement by the bank, the Ukrainian News agency reports.
This financing package within the framework of the Public Expenditures for Administrative Capacity Endurance (PEACE) project provides further support for the payment of pensions to the elderly, grant support for internally displaced persons, and the payment of salaries to teachers and workers of emergency services.
The financing package consists of a loan from the World Bank in the amount of USD 1.086 billion, supported by credit funds from the Trust Fund for Providing Necessary Credit Support to Ukraine (ADVANCE Ukraine), which is supported by the Japanese government.
The package also includes a grant in the amount of USD 190 million from the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF), a grant of USD 20 million from the Swiss government, and a grant of USD 50 million from the Government of the United States of America.
Funds will be transferred to the Government of Ukraine after the World Bank receives appropriate confirmation of eligible expenses.
As the Ukrainian News agency earlier reported, on December 14, Ukraine received the third tranche of financing in the amount of about USD 900 million (SDR 663.9 million) from the International Monetary Fund within the framework of the Extended Fund Facility (EFF) program.
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