12:40 21 Sep 2023

Ukraine receives $1.25 billion grant from US

The state budget received $1.25 billion of grant funds from the US on 21 September through the World Bank's Multi-Donor Trust Fund.

The funds raised will be used to reimburse state budget expenditures, such as providing pension payments, salaries to the State Emergency Service employees, medical workers who provide services under the medical guarantee program, civil servants, and teaching staff.

The Ministry of Finance explained that the funds are part of the fifth additional financing within the framework of the World Bank's Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE in Ukraine) project.

The project aims to partially compensate for state budget expenditures, particularly social and humanitarian expenditures unrelated to the security and defense sector.

Ukraine has received $9.7 billion in direct budget support from the US through grants in 2023.

Since the beginning of the full-scale war, the US has supported the Ukrainian budget with $21.7 billion in financial aid.

Financial assistance from the United States is provided on a non-refundable basis, which allows not to increase the debt burden on the state budget. I am grateful to the US Government for its solidarity and large-scale support, Finance Minister Serhii Marchenko said.

The European Investment Bank is considering providing about €220 million to reconstruct Ukraine's infrastructure.

Representatives of the State Agency for Infrastructure Reconstruction assure the funds will be used to restore roads and bridges.

According to the agreement signed in June 2023, the EIB provided more than €50 million of EU grant funds available under the European Union's Neighborhood Investment Platform (NIP) for the purchase of modular bridges.

In addition to the EIB, one of Ukraine's key international partners in restoring critical infrastructure, the Agency cooperates with the World Bank, USAID, and the European Bank for Reconstruction and Development (EBRD).


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