Ukraine has received an €88.5M grant from the World Bank fund and expects €495M more.
Monday, May 2, 2022

Ukraine has received an €88.5M grant from the World Bank fund and expects €495M more.

 Ukraine received grant funding of €88.5M from the World Bank’s Donor Trust Fund under Ukraine’s Second Development Policy Recovery Loan, as reported by the Ukraine Ministry of Finance. “Grant funds will be directed to the general fund of the state budget of Ukraine to ensure priority social, humanitarian, and health care expenditures, as well as support for internally displaced persons,” the Ministry of Finance explained. On April 21, Finance Minister Serhiy Marchenko and World Bank Regional Director for Eastern Europe Arup Banerjee signed an agreement to provide Ukraine with a grant from the Trust Fund of €88.5M. Moreover, under the additional agreement, Ukraine will receive additional grant funds from Norway, Austria, and the United States in the amount of €495M for the same purposes.

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