World Bank allocated an additional $2.5B to Ukraine

The World Bank allocated an additional financial package to Ukraine in the amount of $2.5 billion on February 24, 2023, aimed at supporting key sectors, including education and health systems, pension payments and financial assistance to internally displaced persons of Ukraine.

Source: The World Bank 

This grant is direct budget support to the Government of Ukraine and is provided within the framework of the Bank’s Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) Project to ensure the continuity of basic services and the implementation of the main functions of the government in the conditions of the ongoing war.

The funds were provided by the United States Agency for International Development (USAID). They will be transferred to the government of Ukraine after the World Bank checks the expenditures.

“This additional financing package to the PEACE project builds on previous grants and will support key sectors, including health care, schools, payment of pensions, payments for internally displaced people, social assistance programs, and wages for employees providing core government services,” informed the World Bank.

According to the President of the World Bank Group David Malpass, the World Bank has mobilized $ 20.6 billion in support of Ukraine since the war began. $18.5 billion has already been disbursed.

See also: Ukraine received $203M from Britain through the World Bank

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