This Wednesday, the Ukrainian finance ministry acknowledged receipt of an additional $1.15 billion grant from the United States, taking the total U.S. aid since the start of the conflict with Russia to $22.9 billion. The latest grant was provided through the PEACE (Public Expenditures for Administrative Capacity Endurance) in Ukraine program, a key financial tool implemented by the World Bank to support Kyiv.
The PEACE program aims to counterbalance state budget expenditures in social and humanitarian fields, deliberately excluding security or defense aspects. In 2023 alone, the U.S. government allocated $10.9 billion as direct budgetary support to Ukraine via grants.
Finance Minister Serhiy Marchenko confirmed these figures amidst a backdrop of increasing reliance on foreign funding by Ukraine. The country is grappling with a budget deficit and seeking ways to finance social spending in critical areas such as education and healthcare.
The 20-month-long conflict has led to significant destruction of infrastructure, including schools and hospitals, prompting Ukraine to intensify efforts for their restoration. This has further underscored the importance of foreign aid in helping Ukraine navigate its current economic challenges.
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