The additional financial package aims to support key sectors, in particular, the education and health systems, pensions and financial assistance to internally displaced persons.
The World Bank on Friday, February 24, announced additional grant funding for Ukraine in the amount of $2.5 billion. It was reported on the WB website.
It is noted that this grant is a direct budget support of the Government of Ukraine and is provided within the framework of the Bank’s Public Expenditure to Support the Administrative Capacity of Ukraine (PEACE) project to ensure the continuity of the provision of essential services and implementation of the basic functions of the government in the context of the ongoing war.
The funds were provided by the United States Agency for International Development (USAID). They will be transferred to the Ukrainian government after the World Bank verifies its eligible costs.
“Today’s additional financial package for the PEACE program continues several previously awarded grants and will support key sectors, in particular, the education and health systems, pensions, financial assistance to internally displaced persons , support for social assistance programs, funding of public salaries. workers in the sector that provide essential services,” the statement said.
According to World Bank Group President David Malpass, the World Bank has mobilized $20.6 billion to support Ukraine since the war began. Of this amount, $18.5 billion has already been paid, which is assistance for more than 12 million Ukrainians.
Also on Friday, the United States committed $10 billion to support Ukraine. These funds will help Ukraine meet immediate health, education and emergency needs.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.