KYIV: Ukraine will receive $1.25 billion from the United States as part of the World Bank’s PEACE in Ukraine project, Ukraine’s finance ministry said on Thursday.
The funds will be directed to support vulnerable groups of the population, as well as those whose work is to ensure the performance of state functions and the provision of educational and medical services, the ministry said.
The PEACE (Public Expenditures for Administrative Capacity Endurance) in Ukraine project has been the World Bank’s flagship financing instrument for Kyiv during Russia’s more than 18-month-old war on Ukraine.
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The finance ministry said it had attracted grants and loans totalling $19.5 billion and 1.44 billion euros ($1.55 billion) as a result of the project.
Ukraine relies on financial aid from its foreign partners to be able to cover its budget deficit.
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