In the near future, the state budget of Ukraine will receive almost $3.9 billion in a new grant from the United States, Hromadske reports.
According to the Ministry of Finance, this is the first tranche of direct budget support from the United States in 2024. The planned amount of financial assistance from the United States for the current year is $7.8 billion.
The funds raised will be used to pay salaries to teachers, emergency responders, and government employees, as well as to support priority social expenditures, such as payments to internally displaced persons, low-income families, and people with disabilities.
The funds will come through the project “Public Expenditure Support for Ensuring Sustainable Public Administration in Ukraine” (PEACE in Ukraine).
According to the Ministry of Finance, this project is a key financial instrument of the World Bank to help Ukraine. Since the beginning of Russia’s full-scale invasion, it has been uniting the efforts of foreign donors to provide critical support to the Ukrainian government.
The PEACE in Ukraine project has already attracted more than $25 billion to the state budget since June 2022. This agreement will increase the amount of budget support under the project to almost $30 billion, of which more than 80% is from the United States.
