$1.2 Bln: Finland and USA Transferd a Grant for Ukraine 

by Meifan Honcharuk
Saturday, July 1, 2023
$1.2 Bln: Finland and USA Transferd a Grant for Ukraine 

The MoF of Ukraine reported that it received part of the 5th additional funding under the "PEACE in Ukraine" program

On 30 June, Ukraine received $1.215 billion in grants to support the functioning of public administration. The US transferred $1.2 billion and Finland $15 million. These funds will be used to pay pensions, salaries of employees of educational institutions and public authorities. Part 5 of the assistance package PEACE in Ukraine will also help to implement social assistance programmes for persons with disabilities, internally displaced persons and poor families.

"I am grateful to the US, Finnish and World Bank governments for their fruitful cooperation and substantial support in terms of humanitarian and social expenditures during the full-scale war," finance minister Serhii Marchenko thanked the allies.

The program allows Ukraine to receive funding in the form of grants. This positively impacts the country's financial stability – Ukraine is invested, not given money on credit. Thus, the debt burden does not increase, and the country's economy is recovering.

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