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World Bank announces $2.5 billion in additional Ukraine aid

The World Bank on Friday announced $2.5 billion in additional grant financing from the US Agency for International Development (USAID ) to support Ukraine’s budget and maintain essential services.

The latest financing under the World Bank’s Public Expenditures for Administrative Capacity Endurance in Ukraine(PEACE) project lifts the total to $20.6 billion and will support salaries in core government functions and sectors such as healthcare and education while allowing Kyiv to pay pensions and support internally displaced people.

“One year into Russia’s invasion of Ukraine, the world continues to witness the horrific destruction inflicted on the country and its people,” said World Bank Group President David Malpass.

He said that $18.5 billion of the total funds mobilised had been disbursed, reaching more than 12 million Ukrainians.

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