US approves another US$1.25 billion grant to Ukraine

Ukraine's State Budget received a US$1.25 billion grant from the United States of America on 28 April.

The funding was provided through the World Bank's Trust Fund as part of the fourth additional round of financing for the Public Expenditures for Administrative Capacity Endurance (PEACE) in Ukraine, Ukrainska Pravda reports, citing the Ministry of Finance of Ukraine.

The funds will be used to cover pension payments, payments to internally displaced persons, healthcare workers’ wages, and State Emergency Service workers' wages.

Since the start of Russia's full-scale invasion, Ukraine has received around US$16.7 billion in grants from the United States.

"The partnership with the United States and the World Bank team during the war allows the Government of Ukraine to finance priority social expenditures in full. At the same time, the assistance in the form of grants does not increase the debt burden and contributes to the stabilisation of the financial system," Ukraine's Finance Minister Serhii Marchenko said.