World Bank Unlocks Fresh Funding for Ukraine: Where the Money Will Go
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The new World Bank tranche has been credited to Ukraine’s state budget under the PEACE in Ukraine program with guarantees from the Swedish government, and the funds will be directed toward social expenditures, including support for key public services and benefits.
This was announced by Prime Minister Yulia Svyridenko.
According to her, the funds received will be used to cover the state’s priority social expenditures. In particular, this concerns the financing of pension payments.
Svyrydenko recalled that the PEACE in Ukraine project was launched four years ago to support Ukraine’s financial stability during the war.
After the receipt of the new tranche, the total amount of funds raised through this program reached $53.5 billion.
The Prime Minister thanked international partners for their support and emphasized that the funds raised help the government fulfill its social obligations to citizens, even in the face of a full-scale war.
We would like to remind you that the EU Council approved a decision to allocate almost 2.8 billion euros to Ukraine under the Ukraine Facility program.