The USA will provide Ukraine with a grant of almost 4 billion dollars: where will the funds go

In the near future, the State Budget of Ukraine will receive a grant from the USA in the amount of almost 3.9 billion USD. The relevant agreement was signed by the Minister of Finance of Ukraine, Serhiy Marchenko, and the Regional Director of the World Bank for Eastern Europe, Bob Som. informs press service of the Ministry of Finance.

The received funds will be used to pay salaries to teachers, workers of rapid response services (RSNS), civil servants, as well as priority social expenses. In particular, it is planned to support internally displaced persons, low-income families and persons with disabilities.

This is the first tranche of direct budget support from the United States in 2024. The total amount of financial assistance from the USA for the current year is 7.8 billion

Funds will come through the project “Supporting public expenditures to ensure sustainable public administration in Ukraine” (PEACE in Ukraine), which is a key financial instrument of the World Bank for assistance to Ukraine. Since June 2022, the start of the full-scale Russian invasion, more than $25 billion has been raised through this project. Thanks to the new agreement, the amount of budget support will increase to almost 30 billion US dollars, of which more than 80% are funds from the United States.

 “The effective work of the Government, together with significant support from international partners, allows us to ensure the stability of the financial system in the conditions of full-scale armed aggression of the Russian Federation against Ukraine. I am grateful to the USA and the World Bank team for their cooperation, the result of which is the mobilization of critical resources. This is necessary and timely funding for support liquidity of the state budget”, – this is how Minister of Finance Serhii Marchenko emphasized the importance of this support.