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23 November 2022, 01:28 PM

World Bank allocates additional $4.5 billion for government wages and welfare payments in Ukraine

Ukraine is slated to receive an additional financial aid package amounting to $4.5 billion in additional grant financing from U.S. to the World Bank’s PEACE program, the World Bank press release from Nov. 22 reads.

This funding will be used to pay wages for government, school, social sector workers, hospital workers, and pensions for the elderly and vulnerable.

This grant adds to existing PEACE (Public Expenditures for Administrative Capacity Endurance) program funds, which includes a $1.49 billion Investment Project Financing (IPF) in June, $4.5 billion in grant financing in Au-gust, and $530 in loan guarantees in September 2022.

The World Bank has mobilized close to $17.8 billion in financial assistance to the Ukrainian state, including more than $11.4 billion commitments and pledges from donors that have been fully assigned.

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