KYIV: Ukraine received $ 1.34 billion under World Bank’s public expenditures for administrative capacity endurance in Ukraine, Ukrainian finance ministry said. Ministry said in statement financing consisted of $ 1.086 billion loan from World Bank, $ 190 million grant from Norway, $ 50 million grant from United States and $ 20 million grant from Switzerland.

Ministry said funds would be used to partially compensate for non-security and defence-related expenditures of Ukrainian state budget, including old-age social payments and payments to employees of state emergency service.

“International financial assistance is significant contribution to maintaining Ukraine’s financial and economic stability and allows us to provide priority social expenditures during war,” Ukraine’s Finance Minister Serhiy Marchenko said.

Published in The Daily National Courier, December, 26 2023

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