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US provides $1.25 billion budget grant to Ukraine

US provides $1.25 billion budget grant to Ukraine

The US government has provided a $1.25 billion grant to Ukraine’s state budget through the World Bank’s Multi-Donor Trust Fund. This brings the 2023 direct US budget support to $8.45 billion. Since Russia’s full-scale invasion began, the total US grant funding to Ukraine’s budget has reached $20.4 billion, Ukraine’s Ministry of Finances and US ambassador to Ukraine informed.

The latest grant is part of the fifth additional financing for the PEACE in Ukraine project supporting sustainable governance expenditures. The project helps partially compensate for social and humanitarian budget spending.

The granted funds will cover part of civil servant salaries and state social assistance programs for displaced persons, the disabled, and low-income families.

Ukrainian Finance Minister Sergiy Marchenko said the unconditional US financial assistance is crucial for upholding the state budget amid Russia’s aggression. He expressed deep gratitude to the US government and taxpayers for their solidarity and unprecedented backing of Ukraine in this crucial period.

In 2023, an ongoing $16.5 billion World Bank program for Ukraine is supported by the US and other donors. In 2022, $14.5 billion were provided within the same program since the Russian full-scale invasion began.

In 2022, 14 countries contributed to the PEACE program, providing budgetary support for Ukraine in the form of grants, loans, and credit guarantees:

  • United States — $11.7 billion
  • UK — $1.45 billion
  • World Bank — $727.8 million (loans)
  • Germany — $264.5 million
  • Italy — $200.5 million (loan)
  • Spain — $50.1 million
  • Denmark — $30.9 million (credit guarantees)
  • Finland — $21.3 million
  • Ireland — $21.1 million
  • The Netherlands — $20.3 million (credit guarantees)
  • Latvia — $10.4 million (credit guarantees)
  • Lithuania — $10 million (credit guarantees) and $3.2 million
  • Switzerland — $10.3 million
  • Belgium — $3.1 million
  • Iceland — $1.6 million
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