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Ukraine received $1.34 bln under World Bank project - finance ministry




KYIV, December 27 ------ Ukraine received $1.34 billion under the World Bank's public expenditures for administrative capacity endurance in Ukraine, the Ukrainian finance ministry said.

 

The ministry said in a statement the financing consisted of a $1.086 billion loan from the World Bank, $190 million grant from Norway, $50 million grant from the United States and $20 million grant from Switzerland. The ministry said the funds would be used to partially compensate for non-security and defense-related expenditures of the Ukrainian state budget, including old-age social payments and payments to employees of the state emergency service. "International financial assistance is a significant contribution to maintaining Ukraine's financial and economic stability and allows us to provide priority social expenditures during the war," Ukraine's finance minister Serhiy Marchenko said.

 

Source: reuters.com

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