The money is provided on non-refundable terms, which allows us not to increase the debt burden on the state budget of Ukraine.
Ukraine’s state budget received a $1.25 billion grant from the United States through the World Bank’s multi-donor trust fund. The Ministry of Finance announced this on Thursday, September 21.
These funds are part of the fifth additional financing under the World Bank’s Support for Public Expenditures for Sustainable Governance in Ukraine (PEACE in Ukraine) project.
This year, Ukraine received $9.7 billion in direct budget support from the United States in the form of grants.
The raised funds will be used to restore state budget expenses: providing pension payments, paying employees of the State Emergency Service, wages for health workers who provide services under the program medical guarantee, civil servants and teachers.
As Finance Minister Sergei Marchenko said, since the start of the entire war with Russia, the state budget of Ukraine has already received $21.7 billion from the United States. This financial assistance is provided on non-repayable terms, which makes it possible not to increase the debt burden on the state budget.
It was previously known that Ukraine is counting on multi-billion dollar US aid next year.
It was also reported that 2024 state budget expenses will not be less than this year, including in defense, and therefore external financing is needed at a level not less than this year – $42 billion.
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I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.