The World Bank will provide Ukraine with $841 million: what will the funds be used for?
Фото: Національний банк України
Ukraine will soon receive $841 million in budget support from the World Bank under guarantees from the Government of Canada. The funds will be used to reimburse the state budget for pension payments.
This was announced by Prime Minister of Ukraine Serhiy Koretsky.
The World Bank’s assistance to Ukraine is provided within the framework of the PEACE in Ukraine project.
“Ukraine will soon receive $841 million in budget support from the World Bank under guarantees from the Canadian government. The funds are provided within the framework of the PEACE in Ukraine project. They will be used to reimburse the state budget for pension payments,” Koretsky said.
The Prime Minister emphasized that international financial support remains important for Ukraine in the context of a budget deficit and a burden on public finances.
He also thanked the Canadian government and the World Bank for the assistance provided.
As a reminder, in June, Ukraine received 236 million euros from the World Bank as part of the PEACE in Ukraine project. These funds were also directed to priority social expenditures, including pension payments.
In addition, on September 11, Ukraine and Canadaagreed on new assistance packages and joint initiatives . The support covers defense, energy, reconstruction, and other areas.
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