The World Bank announced $2.5 billion in additional grant financing from the U.S. Agency for International Development (USAID ) to support Ukraine’s budget and maintain essential services.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The latest financing under the World Bank’s Public Expenditures for Administrative Capacity Endurance in Ukraine(PEACE) project lifts the total to $20.6 billion and will support salaries in core government functions and sectors such as healthcare and education while allowing Kyiv to pay pensions and support internally displaced people.
One year into Russia’s invasion of Ukraine, the world continues to witness the horrific destruction inflicted on the country and its people,” said World Bank Group President David Malpass. He said that $18.5 billion of the total funds mobilized had been disbursed, reaching more than 12 million Ukrainians.
The additional funding was announced a day after U.S. Treasury Secretary Janet Yellen said that Washington was preparing an additional $10 billion in economic assistance for Ukraine and called on the International Monetary Fund to pull together a loan programme for Ukraine. Ukraine is seeking a $15 billion multi-year IMF package.
The World Bank-facilitated financing under the PEACE program is set up to minimize the risk of corruption. The World Bank transmits funds to cover Ukraine’s expenditures a month after they are made, once it has verified that the money has gone to the government employees, pensioners and other recipients.
The latest USAID funds will be transmitted to the government of Ukraine after the World Bank verifies eligible expenditures. The total of $20.6 billion in emergency financing comes from commitments and pledges from, the United States, Britain, the Netherlands, Spain, Norway, Germany, Canada, Switzerland, Sweden, Denmark, Austria, Finland, Ireland, Lithuania, Latvia, Iceland, Belgium, and Japan.
Also Read: India – Egypt hold 3rd ‘Joint Working Group on Counter Terrorism’ meeting in New Delhi
UN approves resolution calling for Russia to leave Ukraine after 1 year
Pakistan receives $700 mln funds from China
Did you know that India has a neighbouring country whose shape looks just like a…
Did you know glass is not just something we use every day — it is…
India’s agricultural exports to the United States are expected to witness a strong boost, with…
In a major boost to India’s air power, the Defence Acquisition Council (DAC), chaired by…
India’s retail inflation stood at 2.75 percent in January 2026 under the new Consumer Price…
Did you know that some crops are not only food but also the backbone of…