Ukraine received $760 million in grants from Japan and Norway
Kyiv • UNN
Ukraine has received $760 million in grants from Japan and Norway under the World Bank's PEACE project.
The state budget received $760 million in grants from Japan and Norway under the World Bank's PEACE project. This was announced on Wednesday by the Ministry of Finance of Ukraine, UNN reports.
The general fund of the State Budget of Ukraine received USD 760 million on a non-refundable basis as the second grant of the Sixth Additional Financing under the World Bank's Public Expenditure Support for Enhanced Accountability in Ukraine (PEACE in Ukraine) project. Additional financing consists of grants from the Governments of Japan and Norway (USD 465 million and USD 295 million, respectively)
As noted, the funds will be used to partially compensate for state budget expenditures not related to security and defense, including pension payments, payments to the State Emergency Service and salaries for teachers.
"Since the beginning of the full-scale invasion, the governments of Japan and Norway have repeatedly demonstrated their unwavering support and solidarity for Ukraine. The assistance of international partners is critical for financing the social sphere of Ukraine during the war. I am grateful to our partners for their willingness to help and actively cooperate at a crucial time for Ukraine," Minister of Finance of Ukraine Sergii Marchenko emphasized.
In 2024, Ukraine has already received about $1.2 billion in external financial assistance from donors through World Bank projects. Almost 75% of them are grants.
