Ukraine has received $841 million in financing from the World Bank, backed by guarantees from the Canadian government. The funds will be used to offset state budget expenditures related to pension payments. Prime Minister of Ukraine Serhii Koretskyi announced this on the Government Portal, as reported by Dengi.ua.
The funding was provided as part of the PEACE in Ukraine project in accordance with agreements reached in September. Following the disbursement of this new tranche, the total project volume has increased to $54.3 billion.
“This is the largest investment project in the history of the World Bank and one of the key mechanisms for supporting Ukraine’s financial stability. I would like to thank the Government of Canada and the World Bank for their important and timely assistance to Ukraine amid a significant budget deficit,” emphasized Serhii Koretskyi.
