Ukraine received financial assistance worth a billion dollars: what will the money go for
- World Bank loan of $ 1.086 billion through the ADVANCE Ukraine trust fund guaranteed by the Japanese government;
- $ 190 million from Norway,
- $ 50 million from the United States and
- $ 20 million from Switzerland.
At the same time, Hungary's breakdown of the provision of Ukraine 50 billion euro aid from the EU does not mean that our country will not receive these funds.
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Sergii Marchenko (@SergiiMarchenk3) · X
Ukraine faces economic crisis without quick EU aid, finance ...
Ukraine Received $1.34 Billion Under World Bank Project - Finance Ministry
FILE PHOTO: Ukrainian Minister of Finance Serhiy Marchenko attends an interview with Reuters during the annual meeting of the International Monetary Fund and the World Bank, following last month's deadly earthquake, in Marrakech, Morocco, October 14, 2023. REUTERS/Susana Vera/File PhotoREUTERS
KYIV (Reuters) - Ukraine received $1.34 billion under the World Bank's public expenditures for administrative capacity endurance in Ukraine, the Ukrainian finance ministry said on Monday.
The ministry said in a statement the financing consisted of a $1.086 billion loan from the World Bank, $190 million grant from Norway, $50 million grant from the United States and $20 million grant from Switzerland.
The ministry said the funds would be used to partially compensate for non-security and defense-related expenditures of the Ukrainian state budget, including old-age social payments and payments to employees of the state emergency service.
(Reporting by Pavel Polityuk; Editing by Kirsten Donovan and Andrew Cawthorne)
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Monday, 25 December 2023, 17:32
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Finance Ministry attracts almost $2.8 bln in grants, preferential financing from intl partners in Oct
The state budget of Ukraine received about $2.8 billion in external funding in October, more than 40% of the total financial assistance was grant funds on non-refundable terms, the press service of the Ministry of Finance reported on Tuesday.
As the department clarified, the donors in October 2023 were the EU - $1.6 billion (concessional financing) and the USA - $1.15 billion (grant).
"Funds from the EU are the ninth tranche within large-scale macro-financial assistance (MFA) for 2023. The total amount of funding under the MFA program is EUR 18 billion, of which Ukraine has already received EUR 15 billion," the Ministry of Finance informs.
- It is noted that the grant from the United States is part of the fifth additional funding under the World Bank project Public Expenditures for Administrative Capacity Endurance (PEACE in Ukraine).
- It is also recalled that in 2023 Ukraine has already received $10.9 billion in grant funding from the United States.
The ministry explained that international funding is directed to priority expenditures of the state budget, in particular to ensure social protection of the population, humanitarian needs, and remuneration of workers in the education and healthcare sectors.
- In just ten months of 2023, the Ministry of Finance attracted about $35.4 billion in external financing for urgent needs of the state budget.
The Ministry of Finance added that it is committed to accountability and efficiency in the use of financial assistance from partners. To this end, the Ministry, within cooperation with the World Bank, ensures transparency in the attraction and use of external financing.
Finance Ministry attracts almost $2.8 bln in grants, preferential financing from intl partners in Oct
Together with Deloitte Consulting, which implements the USAID SOERA project, the Ministry of Finance monitors the use of direct budgetary support from the U.S. government, and with the auditing company PriceWaterhouseCoopers Ukraine, it reviews agreed upon procedures to determine allowable government expenditures carried out by Ukraine within the framework of the PEACE project.
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