Ukraine has received EUR 236 million in loan financing under the World Bank’s PEACE in Ukraine project (“Public Expenditures for Administrative Capacity Endurance”).
The financing was provided by the International Bank for Reconstruction and Development (IBRD) under a guarantee from the Government of the Kingdom of Sweden.
The funds have been directed to the general fund of the state budget of Ukraine to reimburse key social expenditures, which remain among the Government’s top priorities under martial law.
“I am grateful to the World Bank and the Government of Sweden for this financing. Since 2022, Sweden has provided Ukraine with more than EUR 480 million in loans and grants through various World Bank mechanisms. Thanks to the support of our international partners, including Sweden, Ukraine continues to maintain macro-financial stability and ensure the timely financing of critical state budget needs,” said Minister of Finance of Ukraine Sergii Marchenko.
The PEACE in Ukraine project was launched four years ago in response to russia’s full-scale aggression against Ukraine and the urgent need to safeguard the country’s financial resilience. Its objective is to support the Government of Ukraine in financing social expenditures, salaries of public sector employees, old age social payments, as well as the uninterrupted provision of healthcare and education services.
Through the PEACE in Ukraine project, Ukraine mobilizes loan and grant resources from international partners and donors. Following the disbursement of the new financing, the total amount of funding mobilized under the project has reached nearly $53.5 billion. (Finance Ministry)