Ukraine Received $1.25 Bln Grant From the World Bank

by Roman Cheplyk
Tuesday, February 28, 2023
Ukraine Received $1.25 Bln Grant From the World Bank

On February 27, during the visit of the secretary of Treasury, was announced on receiving of the first part of the social grant from a total of $2.5 bln

On February 27, a meeting was held between the minister of finance of the United States Janet Yellen and the president of Ukraine Volodymyr Zelenskyy. The Ministry of finance of Ukraine announced after the meeting of representatives of the states that they had received the first tranche of $1.25 billion from the $2.5 billion grant. The funds were allocated within the framework of the PEACE social program from the World Bank.

The grant will be allocated to the needs of the people of Ukraine: payment of salaries/pensions/payments to mothers in childbirth: low-income families, subsidies for payments to housing and communal services, assistance to single mothers and persons with disabilities etc.

Even if Ukraine's economic background is restored, a budget deficit of $38 billion is forecast in 2023. Ukraine has already concluded agreements with the United States and the European Union to receive support in the amount of $10 billion and €18 billion.

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