The Minister of Finance of Ukraine, Serhiy Marchenko, and the Regional Director of the World Bank for Eastern Europe, Bob Som, have signed a grant agreement that will provide Ukraine with approximately $1.37 billion in funding.
This information is mentioned on the website of the Ministry of Finance.
The funds are expected to be transferred to the state budget in the coming days and will be allocated for social and humanitarian needs, excluding security and defense-related expenditures.
The grant consists of $1.35 billion from the government of the United States and €10.8 million from a multi-donor fund. These resources will support key expenditures of the Ukrainian state budget under the project Support for Government Expenditures to Ensure Sustainable Governance in Ukraine (PEACE in Ukraine).
Serhiy Marchenko emphasized that since the onset of the full-scale invasion, the PEACE in Ukraine project has provided Ukraine with nearly $28 billion and over €1.4 billion in support.
It is worth noting that at the end of October, it was reported that the European Investment Bank would allocate a grant of €12 million to Ukraine. The total assistance under the project will consist of a €12 million grant and a €40 million loan.
On October 26, the G7 countries completed the arrangement of a $50 billion loan for Ukraine, backed by revenues from the frozen assets of the Russian central bank.