Ukraine Secures Desperately Needed Funds from World Bank
Jan 2, 2024 ·
1m 5s
Ukraine has received a vital $1.34bn in funds from the World Bank. Ukraine’s Ministry of Finance says the funding has been paid out to support non-security related financial and economic...
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Ukraine has received a vital $1.34bn in funds from the World Bank.
Ukraine’s Ministry of Finance says the funding has been paid out to support non-security related financial and economic stability.
The cash boost will be welcomed by Kyiv, which warns that its ability to defend against the Russian invasion could soon be impacted by delays in funding from the United States and the European Union.
The ministry noted that the financing, which is the Sixth Additional Financing under its Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) project, consisted of a $1.086bn loan from the World Bank, a $190m grant from Norway, a $50m grant from the United States and a $20m grant from Switzerland.
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Ukraine’s Ministry of Finance says the funding has been paid out to support non-security related financial and economic stability.
The cash boost will be welcomed by Kyiv, which warns that its ability to defend against the Russian invasion could soon be impacted by delays in funding from the United States and the European Union.
The ministry noted that the financing, which is the Sixth Additional Financing under its Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) project, consisted of a $1.086bn loan from the World Bank, a $190m grant from Norway, a $50m grant from the United States and a $20m grant from Switzerland.
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