$841 million from the World Bank has been attracted under the PEACE in Ukraine Project. The financing was provided by the International Bank for Reconstruction and Development (IBRD) under a guarantee from the Government of Canada.
The funds will be used to reimburse State Budget expenditures on old-age social payments.
The financing was raised under the Loan Agreement for the Tenth Additional Financing of the Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE in Ukraine) Project, signed in September by Minister of Finance of Ukraine Sergii Marchenko and World Bank Regional Director for Eastern Europe Bob Saum.
“The funds received will help ensure the timely financing of critical social expenditures. PEACE remains one of the key and most effective instruments of budget support for Ukraine. I am grateful to the Government of Canada and the World Bank for their partnership and support in maintaining Ukraine’s financial resilience,” said Minister of Finance of Ukraine Sergii Marchenko.
This became the 27th agreement under the PEACE in Ukraine Project. Following its signing, the total volume of the Project reached $54.3 billion.
PEACE in Ukraine is the largest investment project in the World Bank’s history. It plays a key role in maintaining the stability of Ukraine’s public finances and financing priority social expenditures amid the full-scale war.
Since February 24, 2022, Ukraine has received more than $73.8 billion in financial assistance through World Bank mechanisms, including over $53 billion in grants.
The Ministry of Finance of Ukraine continues its cooperation with the World Bank and international partners to mobilize the financing required for the state budget and safeguard Ukraine’s macro-financial stability in 2026 and the years ahead. (Finance Ministry)