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Ukraine Receives €495M in Grants from World Bank Trust Fund

World bank money

Ukraine received another part of the grant funds to the tune of 495 million euros. The funds were provided from the World Bank’s donor trust fund under the Second Economic Recovery Development Policy Loan for Ukraine.

This grant was provided to Ukraine as part of the first amendments to the Donor Trust Fund Grant Agreement. Accordingly, the state budget received funds from the United States (about 463 million euros), Norway (about 20.5 million euros), and Austria (about 10 million euros).

These funds will be used to secure priority social and humanitarian expenditures, health care spending, and support internally displaced persons.

Background:

The trust fund was established by the International Bank for Reconstruction and Development and the International Development Association. Denmark, Iceland, Latvia, Lithuania, the United Kingdom, Norway, Austria, and the United States have already made contributions to the fund.

Another $500 million grant support is currently being prepared by the United States.

Natalia Tolub

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