Ukraine receives $1.25 bln grant from USA

09:39, 28.02.2023 1 min read

Ukraine on Monday received the first tranche of U.S. grant funding in 2023 in the amount of $1.25 billion, the Ministry of Finance of Ukraine reported.

A second tranche of the same size will arrive in March, according to a press release issued by the ministry following a meeting between Ukrainian Prime Minister Denys Shmyhal and Finance Minister Serhiy Marchenko with U.S. Treasury Secretary Janet Yellen on Monday.

The Ukrainian Ministry of Finance recalled that in total this year the United States confirmed its intention to provide Ukraine with $9.9 billion.

The funds are received as part of the World Bank's Public Expenditures for Administrative Capacity Endurance (PEACE) project and are used to reimburse state budget expenditures made to provide pension payments, housing and utility services subsidies, payments to low-income families, persons with disabilities, IDPs, benefits for children of single mothers, maternity benefits, wages for employees of higher education institutions, as well as payments to first responders (the State Emergency Service).