Ukraine Will Receive USD 1.5 Billion From the World Bank to Pay Public Sector Employees

On May 7, the Government decided to create a delegation of Ukraine to participate in negotiations with representatives of the International Bank for Reconstruction and Development on signing a financing agreement for the project Support for Public Expenditures for Sustainable Public Administration in Ukraine.

The Ukrainian delegation will be headed by the Minister of Finance of Ukraine Sergii Marchenko.

In April the World Bank proposed the Government of Ukraine to start preparing a new investment project on urgent support for public services in Ukraine.

As part of the project, with the support of the International Bank for Reconstruction and Development and the International Development Association, Ukraine will receive USD 1.492 billion. 

The money will be used to reimburse state budget expenditures made to provide salaries to employees of state authorities and budget-funded educational institutions, both at the national and regional levels.