World Bank to allocate additional US$1.3 billion to Ukraine
The World Bank will allocate an additional $1.34 billion to Ukraine, which will be directed towards social benefits.
Source: Ukraine's Prime Minister Denys Shmyhal on Telegram
Quote: "These funds will be used to pay pensions, teachers' salaries, support for internally displaced people and other priority state budget expenditure," the prime minister explained.
Details: Shmyhal added that the main financing package part, US$1.086 billion, comes from the Japanese Government. Others are grants from the US, Switzerland and the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF).
The PM said the financial assistance from international partners enables the government to ensure Ukraine's macro-financial stability and direct all internal resources to the army's needs.
Background:
Ukraine's Ministry of Social Policy and the World Bank signed an agreement to launch a new project, Investing in Social Protection for Inclusion, Resilience, and Efficiency (INSPIRE).
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