13:45 31.07.2023

Ukraine receives another $1.25 bln in grant funds from USA

2 min read
Ukraine receives another $1.25 bln in grant funds from USA

Ukraine received another $1.25 billion grant from the United States on Monday through the Multi-donor Trust Fund of the World Bank, Ukraine's Finance Ministry has said.

"Non-repayable direct budget support from the United States is an extremely important element in supporting the State Budget of Ukraine as we resist full-scale russian aggression. The grant of $1.25 billion will help the Government of Ukraine to reimburse priority expenditures in the social and humanitarian spheres," Finance Minister Serhiy Marchenko is quoted in the press release as saying.

The Ministry of Finance said that Ukraine has already received $8.45 billion in grant funds for direct budget support from the United States in 2023. Since the beginning of the full-scale war, the State Budget of Ukraine has already received $20.4 billion in grant funds from the United States.

As the Ministry of Finance previously said, as of July 21 this year, Ukraine's state budget received funding of $23.6 billion from international partners compared to $32.1 billion last year, with a need for this year of about $42 billion.

Since then, the budget has also received EUR 1.5 billion from the sixth tranche of EU macro-financial assistance and $1.5 billion through the World Bank Trust Fund mechanism, guaranteed by the Japanese government.

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