12:29 05.08.2024

Ukraine gets $3.9 bln grant from USA – Ministry of Finance

2 min read
Ukraine gets $3.9 bln grant from USA – Ministry of Finance

Ukraine's state budget received a grant from the United States in the amount of $3.9 billion, breaking a pause since October 2023, when the previous U.S. grant of $1.15 billion was received into the state budget, according to a press release from Ukraine's Ministry of Finance.

"I am grateful to the U.S. Government for its solidarity with Ukraine. $3.9 billion in non-repayable financial assistance is an extremely important contribution to support the State Budget of Ukraine in its efforts to resist the full-scale aggression of the russian federation," said Minister of Finance of Ukraine Serhiy Marchenko.

He added that the grant will help the government of Ukraine to reimburse priority social and humanitarian expenditures without increasing the debt burden.

According to the press release, the funds were provided through the World Bank's Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE in Ukraine) project.

The funding will be directed to compensate the following expenditures: wages for teachers, employees of the State Emergency Service, and public employees; priority social expenditures: payments of assistance to internally displaced persons, low-income families and people with disabilities.

Since February 2022, direct budget support from the United States has reached almost $27 billion. This is the largest financial assistance to Ukraine among all countries in the world. The entire amount of support was allocated to Ukraine's State Budget in the form of grants, the ministry recalled.

This year, budgetary support from the United States is envisaged in the amount of $7.8 billion. 

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