Ukraine and the World Bank signed an agreement on providing a grant from the US for $3.9 billion
Shmyhal noted that funds will be provided "soon" through the World Bank
Minister of Finance Serhiy Marchenko and Regional Director of the World Bank Bob Saum signed a new financial agreement on the first tranche of $3.9 billion from the United States in 2024, the Ministry of Finance of Ukraine reported on August 1.
"This is the first tranche of direct budget support from the United States in 2024. The planned amount of financial assistance from the United States for the current year is $7.8 billion," the message reads.
The government of Ukraine has decided to attract a US grant in the amount of $3.9 billion for salaries and social support programs, Prime Minister Denys Shmyhal announced on July 23. Shmyhal added that the funds will be provided "soon" through the World Bank.
The agreement was signed as part of the "Peace in Ukraine" project, which is the main tool of the World Bank in providing financial assistance to Ukraine since the beginning of the full-scale war in 2022.
According to the Ministry of Finance, more than $25 billion was raised with the help of the "Peace in Ukraine" program, and the new agreement will increase the amount to almost $30 billion, most of which was provided by the United States.
As the full-scale Russian invasion continues to put pressure on Ukraine's economy and business, the World Bank is playing one of the most important roles in supporting the country's economic sector.
The World Bank said that 1.8 million more Ukrainians live in poverty this year than in 2020, according to a report published on May 29.
The report is based on a survey conducted in cooperation with the Kyiv International Institute of Sociology (KIIS). It was established that 9 million Ukrainians out of a population of 32 million live in poverty.
Despite the terrible situation, the World Bank stated that it would be much worse if Ukraine did not receive foreign aid to pay pensions and salaries.
Background. Ukraine received a grant from the EU to improve the infrastructure at one of the checkpoints. The state will share this money with Moldova and Romania.
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