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US transfers $1.25 billion in grant funds to Ukraine

US transfers $1.25 billion in grant funds to Ukraine

The US has given Ukraine a $1.25 billion (£973m) grant through the World Bank, the finance ministry in Kiev announced today

This grant is part of the fifth package under the Public Expenditure Sustainability of Administrative Capacity (PEACE) program, which aims to support Ukraine’s social and humanitarian spending.

Funding will be divided into different areas, including social assistance for internally displaced persons (IDPs), persons with disabilities, low-income families and other social payments.

This year alone, Ukraine has so far received $8.45bn (£6.5bn) in direct budget support from the US, the ministry said.

Since the outbreak of war, the United States has given $20.4bn (£15.8bn) in grant funding to Kiev.

The PEACE project in Ukraine was established in June last year to help around 13 million beneficiaries, including 10 million pensioners, 500,000 education workers, 145,000 government workers, 56,000 emergency workers and more than three million social assistance beneficiaries and IDPs, as stated by the World Bank.

VATTAJ NEWS


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