The Cabinet of Ministers of Ukraine adopted a decision that paves the way for receiving 4.8 billion dollars from the World Bank as part of the PEACE project. Funding will be another important step in providing social and humanitarian programs in wartime.
According to Prime Minister Denys Shmyhal, the funds that Ukraine will receive are financed by the United States and international partners. The government is working to ensure that the funds raised ensure the implementation of key social initiatives on which the well-being of citizens depends in difficult times.
"This support will be directed to key social and humanitarian programs," Shmyhal noted.
PEACE project has been an important source of aid for Ukraine for several years. Since the beginning of the full-scale invasion, the government has attracted more than $100 billion in external funding, which has allowed key state institutions to function, support the population, and ensure social stability.
What will the funds be used for?
Within the framework of the new tranche, the government plans to finance:
- humanitarian initiatives for the most vulnerable categories of the population;
- social programs, including payments of pensions, subsidies and assistance to internally displaced persons;
- support of the health care and education system.
The receipt of these funds is a vivid example of international support for Ukraine in the fight against Russian aggression. The United States remains a key donor, actively engaging partners in Europe and other regions for assistance.
