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Ukraine received USD 1.34 billion through the World Bank's PEACE in Ukraine mechanism for social sector support

Ukraine received USD 1.34 billion as the Sixth Additional Financing under the World Bank's Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) project.

The financing consists of a USD 1.086 billion loan from the World Bank, which was provided through the Advancing Needed Credit Enhancement for Ukraine (ADVANCE Ukraine) Trust Fund under the guarantee of the Government of Japan. The sixth additional financing of PEACE in Ukraine also includes a grant component:

  • USD 190 million from Norway through the Ukraine Relief, Recovery, Reconstruction, and Reform Trust Fund (URTF);

  • USD 50 million from the Government of the United States of America; 

  • USD 20 million from the Government of Switzerland.

The funds will be used to partially compensate for non-security and defence-related expenditures of the Ukrainian State Budget, including old-age social payments and payments to employees of the State Emergency Service (SES).

"International financial assistance is a significant contribution to maintaining Ukraine's financial and economic stability and allows us to provide priority social expenditures during the war. Since the beginning of the full-scale invasion, the governments of Japan, the United States, Norway and Switzerland have repeatedly demonstrated their unwavering support and solidarity for Ukraine. I am grateful to our partners for their willingness to cooperate and help us at a crucial time for Ukraine," said Minister of Finance of Ukraine Sergii Marchenko.