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Foreign partners provided Ukraine with UAH 495 billion in 2022 to cover priority expenditures through the World Bank's PEACE Project

08 May 2023

The Ministry of Finance of Ukraine publishes detailed information on the State Budget expenditures of 2022, which were  reimbursed by the foreign partners under the World Bank's Project Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE in Ukraine).

The purpose of the PEACE in Ukraine Project is to partially compensate for state budget expenditures, including social and humanitarian expenditures not related to the security and defense sector. 

So, international donors have provided Ukraine with USD 14.5 billion under the PEACE Project to reimburse priority expenditures in 2022: 

  • the United States - USD 11.7 billion (grants);
  • the United Kingdom - USD 1.45 billion (guarantees); 
  • the World Bank - USD 727.8 million (loans); 
  • Germany - USD 264.5 million (grants); 
  • Italy - USD 200.5 million (loan); 
  • Spain - USD 50.1 million (grants); 
  • Denmark - USD 30.9 million (guarantees); 
  • Finland - USD 21.3 million (grant); 
  • Ireland - USD 21.1 million (grant);
  • the Netherlands – USD 20.3 million (guarantees);
  • Latvia – USD 10.4 million (guarantees);
  • Lithuania - USD 10 million (guarantees) and USD 3.2 million (grant);
  • Switzerland - USD 10.3 million (grant); 
  • Belgium - USD 3.1 million (grant);
  • Iceland - USD 1.6 million (grant).

In total, in 2022, Ukraine received UAH 495.2 billion in external financing under the Project, including financing:

  • Pensions for more than 9 million pensioners (UAH 199.5 billion);

  • Assistance for 1.6 million internally displaced persons (UAH 40.5 billion);

  • Housing subsidies for 1.6 million families (UAH 15.9 billion);

  • Childbirth assistance for 750 thousand families (UAH 8.9 billion);

  • Salaries for 515 thousand healthcare workers (UAH 45.2 billion), 503 thousand school teachers (UAH 69.9 billion), 140 thousand teachers of higher education institutions (UAH 18.5 billion).

The Ministry of Finance of Ukraine is the responsible authority for the PEACE in Ukraine Project implementation. Jointly with the World Bank, the Ministry of Finance ensures the transparency of the attraction and use the funds provided by the development Partners. The Ministry of Finance monitors the use of direct budget support from the U.S. Government together with Deloitte Consulting, which implements the USAID SOERA project, and performs a verification according to agreed procedures to determine the eligible public expenditures made by Ukraine in 2022 under the Project with the auditing company PriceWaterhouseCoopers Ukraine.

The Ministry of Finance is also taking measures to audit the PEACE in Ukraine Project, in particular with the participation of the Accounting Chamber.

"Financial support from partners under the World Bank PEACE in Ukraine Project has been crucial in ensuring humanitarian and social expenditures during the war. At the same time, responsible use of donor funds is an absolute priority for the Ministry of Finance, as the trust of our partners is our key asset. Constructive cooperation with the World Bank and USAID teams helps to optimize and strengthen the monitoring, verification and reporting systems of the Government of  Ukraine on the use of donor funds," said Minister of Finance of Ukraine Sergii Marchenko.

To increase the transparency and accountability of the use of external financing, the Ministry of Finance has prepared an analytical tool (“dashboard”) containing detailed information on budget expenditures in 2022 under the PEACE in Ukraine project.

 

Additional information:

The procedure for reimbursement of budget expenditures under the PEACE in Ukraine Project:

1. Payments from the general fund of the State Budget that meet the terms of the Project (salaries, social benefits, etc.)

2. Central authorities and the Treasury provide the Ministry of Finance with relevant reports

3. The Ministry of Finance verifies the information provided

4. The Ministry of Finance sends aggregated reports on expenditures to the World Bank 

5. After verification of the data, the World Bank reimburses the amounts of expenditures to the general fund of the State Budget

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