Ukraine Will Receive Additional EUR 495 million Grant Funds From the World Bank Trust Fund

Minister of Finance of Ukraine Sergii Marchenko and the World Bank Regional Director for Eastern Europe (Belarus, Moldova and Ukraine) Arup Banerji signed an amendment to the grant agreement, which will be provided to Ukraine from the World Bank's Trust Fund within the Second Loan Facility Program for Development Policy in Economic Recovery. Under this additional agreement, Ukraine will receive grants from Norway, Austria and the United States of America (within one grant) in the amount of EUR 495 million.

The grant will be directed to the general fund of the State Budget of Ukraine to provide priority social, humanitarian expenses, healthcare expenses, and support for internally displaced persons.

The Trust Fund was created by the International Bank for Reconstruction and Development and the International Development Association. Denmark, Iceland, Latvia, Lithuania, the United Kingdom, Norway, Austria and the United States have already made contributions to the fund.