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Ukraine received a $760 million grant from Japan and Norway through the World Bank’s PEACE project. The funds will be used to compensate for state budget expenditures that are not related to the security and defense sector.
According to Ukrinform, this was reported by the press service of the Finance Ministry.
“The general fund of the State Budget of Ukraine received USD 760 million in non-refundable financing as the second grant of the Sixth Additional Financing under the World Bank’s Public Expenditures for Administrative Capacity Endurance (PEACE) project,” the report says.
The funding consists of grants from the Governments of Japan and Norway (USD 465 million and $295 million, respectively).
The funds will be used to partially compensate for non-security and defence-related expenditures of the Ukrainian state budget, including pension payments, payments to employees of the State Emergency Service (SES) and teacher salaries.
“Since the beginning of the full-scale invasion, the Governments of Japan and Norway have repeatedly demonstrated their unwavering support and solidarity for Ukraine. The assistance of international partners is critical for financing the social sector of Ukraine during the war. I am grateful to our partners for their willingness to help and actively cooperate at a crucial time for Ukraine,” said Minister of Finance of Ukraine Sergii Marchenko.
As reported, in 2024, Ukraine has already received about $1.2 billion of external financial assistance from donors through World Bank projects, with almost 75% of these funds being in the form of grants.
