Finance Ministry Reports Ukraine's Receipt Of $1.34 Bn From World Bank Initiative
Ukraine has received USD 1.34 billion under the World Bank's initiative for enhancing administrative capacity, as stated by the Ukrainian finance ministry on Monday.
According to the ministry's announcement, this financial support includes a USD 1.086 billion loan from the World Bank, a USD 190 million grant from Norway, a USD 50 million grant from the United States and a USD 20 million grant from Switzerland.
The allocated funds are intended to partially cover non-security and defense-related expenses within the Ukrainian state budget. This encompasses various areas such as social payments for the elderly and remunerations for employees within the state emergency service.
Ukraine's Finance Minister, Serhiy Marchenko, highlighted the significance of international financial aid in preserving the country's financial and economic stability. He emphasised that such aid enables the allocation of resources towards essential social expenditures amidst the ongoing conflict.
