28 Feb 2023 12:54

Ukraine receives $1.25 bln grant from USA to support budget - Finance Ministry

MOSCOW. Feb 28 (Interfax) - The United States has provided the first installment totaling $1.25 billion in grant funding intended to support Ukraine's budget in order to ensure the country's sustainable public administration, Ukrainian media reported, citing a post on the Telegram channel of the country's Finance Ministry.

"On February 27, Ukraine received the first tranche of $1.25 billion from the U.S.'s recently announced aid package totaling $2.5 billion, which is scheduled for disbursement in February and March of this year," according to the report.

The funds received are part of the World Bank's Public Expenditures for Administrative Capacity Endurance (PEACE) Project in Ukraine, and they are intended to reimburse state budget expenditures remitted in order to ensure payments to specific categories of socially vulnerable citizens, for housing services and utilities subsidies, as well as wages for public sector employees.

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