Ukraine receives $1.25 bln from US through World Bank fund

The State Budget of Ukraine received another batch of grant funds from the US allies in the amount of $1.25 billion.

The funds are to be used to support the state budget, including social and humanitarian expenditures.

In 2023, Ukraine has already received 6 billion dollars in grant funds support from the USA.

The grant funds were provided as part of the fourth additional financing within the framework of the project "Supporting public expenditures to ensure sustainable public administration in Ukraine" (PEACE in Ukraine).

The purpose of the project is partial compensation of state budget expenditures, in particular social and humanitarian, not related to in the field of security and defense, the statement reads.

The funding will be aimed at reimbursing state budget expenditures, namely: the payment of state social benefits to families with children, wages for workers in the education sector, wages for medical service providers under the medical guarantee program, and others.

Together with the World Bank and USAID SOERA teams, Ukraine is helping to optimize and strengthen the monitoring, verification, and reporting systems of the government regarding the use of donor funds.

In cooperation with the Deloitte Consulting company, Ukraine's ministry monitors the use of direct budget support from the US government.

The Ukrainian Cabinet of Ministers will raise another grant for the recovery of the Ukrainian healthcare system worth over UAH 350 million [roughly US$9,47 million] from the World Bank.