Ukraine has received almost $4 billion in grants from the US: what will the money be used for?
Ukraine has received $3.9 billion in a non-refundable grant from the United States through the World Bank. This was announced by Prime Minister Denys Shmyhal.
“This is the first tranche of direct budget support from the United States in 2024. In total, Ukraine will receive $7.8 billion in direct budgetary assistance from the United States this year, which will allow us to confidently go through this financial period,” the Prime Minister said.
According to the Ministry of Finance, the funds will be used to compensate for the following expenses:
- salaries for teachers, employees of the emergency response services (SES), and employees of state bodies;
- priority social expenditures: payments of assistance to internally displaced persons, low-income families and persons with disabilities.
The agency emphasized that direct budgetary support from the United States since February 2022 has reached almost USD 27 billion, which is the largest financial assistance to Ukraine among all countries in the world. Importantly, the entire amount of support was directed to the state budget of Ukraine in the form of grants.
“I am grateful to the US government for its solidarity with Ukraine. The $3.9 billion in non-repayable financial assistance is an extremely important contribution to supporting Ukraine’s state budget while resisting the full-scale aggression of the Russian Federation. The grant will help the government of Ukraine to reimburse priority social and humanitarian expenditures without increasing the debt burden,” said Minister of Finance of Ukraine Sergii Marchenko.
As a reminder, on July 26, the European Union sent the first €1.5 billion of proceeds from frozen Russian assets to support Ukraine. However, Ukraine will not receive the money directly, it will be channeled through the European Peace Fund and the Ukrainian Fund to support Ukraine’s military potential and to support the country’s recovery.
Finance Minister Sergiy Marchenko said that Ukraine’s additional needs for 2025 are estimated at $12-15 billion. According to him, the Ukrainian authorities are constantly discussing with foreign partners that the state needs additional financial assurance, as the war will continue in 2025.
Der Beitrag Ukraine has received almost $4 billion in grants from the US: what will the money be used for? erschien zuerst auf ukrainereconstructionfund.
The post Ukraine has received almost $4 billion in grants from the US: what will the money be used for? first appeared on Social Gov.
United States - Social Gov originally published at United States - Social Gov
