Ukraine receives new grant of $1.25 bln from U.S. to support budget

MOSCOW. May 31 (Interfax) - Ukraine has received $1.25 billion in financial support from the United States, Ukrainian media reported, citing a post by Prime Minister Denis Shmygal on social media.

The funds are part of the World Bank's support for the Public Expenditures for Administrative Capacity Endurance (PEACE) project in Ukraine.

"The funds will be allocated to support the government budget, particularly social and humanitarian spending," Shmygal posted.

Ukraine received the first tranche of $1.25 billion in U.S. grant funding as part of the World Bank project in February, subsequently receiving grants of $1.25 billion in March and April, respectively.

As previously reported, the external needs to finance Ukraine's government budget total over $42 billion in 2023.