Ukraine to Receive Nearly $3.9 Billion Grant from the US for State Budget Support

In the near future, the State Budget of Ukraine will receive a grant from the USA in the amount of almost $3.9 billion. Minister of Finance of Ukraine Serhii Marchenko and Regional Director of the World Bank for Eastern Europe (Belarus, Moldova and Ukraine) Bob Som signed the relevant Agreement.

The funds will be used to pay salaries to teachers, employees of emergency response services, and employees of state bodies, as well as to support priority social expenses (payments to 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 planned volume of financial aid from the US for the current year is $7.8 billion.

The funds will come through the project "Support to Public Expenditure to Sustainable Public Administration in Ukraine" (PEACE in Ukraine). The project is a key financial instrument of the World Bank for assistance to Ukraine. Since the beginning of the full-scale invasion of Russia, it has been joining the efforts of foreign donors to provide critical support to the Government of Ukraine.

Thanks to the PEACE in Ukraine project, more than $25 billion has already been attracted to the state budget since June 2022. This agreement will increase the amount of budget support within the project to almost $30 billion, of which more than 80% will come from the United States.