Ukraine receives another international assistance package to finance pensions and salaries
Ukraine has received US$1.34 billion as the sixth additional financing for partial compensation of Ukraine’s state budget expenses not related to the security and defence sphere, in particular, for pensions and payments to Ukraine’s State Emergency Service employees.
Source: Ukraine’s Ministry of Finance
Details: Financing is conducted within the World Bank’s Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE in Ukraine project).
The assistance consists of a US$1.086 billion loan from the World Bank, which came through the Advancing Needed Credit Enhancement for Ukraine (ADVANCE Ukraine) Trust Fund under the guarantee of the Japanese Government.
In addition, there are grants:
- US$190 million from Norway through the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF);
- US$50 million from the US federal government;
- US$20 million US dollars from the Swiss government.
The funds will be distributed as partial compensation for Ukraine’s state budget expenses not related to the security and defence sphere, in particular for pensions and payments to Ukraine’s State Emergency Service employees.
Quote: "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," Finance Minister Serhii Marchenko emphasised.
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