On 8 November, Ukraine's Finance Minister Serhiy Marchenko and the World Bank's Regional Director for Eastern Europe Bob Saum signed a $1.37 billion grant agreement.
This is stated on the website of the Ministry of Finance.
The document was concluded within the framework of the project World Bank’s Public Expenditures for Administrative Capacity Endurance (PEACE in Ukraine).
The aim of this project is to partially compensate for state budget expenditures, in particular, social and humanitarian expenditures that are not related to the security and defence sector.
Ukraine will attract a tranche consisting of:
- USD 1.35 billion - a grant from the United States;
- 10.8 million euros from the Multi-Donor Trust Fund for co-financing the Second Economic Recovery Policy Loan Programme for Ukraine.
‘The funds will be transferred to the state budget of Ukraine in the coming days,’ the Ministry of Finance said.
- Since the beginning of Russia's full-scale invasion, the Ministry has already raised almost $28 billion and more than €1.4 billion in budget support through the PEACE in Ukraine project.