The World Bank will provide $4.8 billion to Ukraine as part of the PEACE (Public Expenditures for Administrative Capacity Endurance) project. This was announced by Prime Minister Denys Shmyhal.
The funds will be used to finance key budget programs, including social and humanitarian expenditures. "This is a very important contribution that helps support our budget in the extremely difficult conditions of the war," Shmyhal noted.
The prime minister expressed special thanks to the United States, which is the main donor of the project, and development partners, which provide critical assistance.
As a reminder, on November 8, Ukraine and the World Bank signed a grant agreement worth about $1.37 billion within the framework of the same PEACE in Ukraine project. These funds were intended to cover social payments and humanitarian needs.
The received $4.8 billion will strengthen the government's capabilities:
- support social programs;
- to finance humanitarian needs;
- ensure the stability of the administrative infrastructure.
