Ukraine received $841 million from the World Bank for social benefits

The World Bank has provided Ukraine with $841 million under guarantees from the Canadian government. The funds will be used to finance social benefits, including pensions.

 

Ukraine will receive $841 million in budget support from the World Bank. These funds will cover the state budget’s expenditures on pension payments.

The Canadian government served as the guarantor for the loan. The financing was agreed upon as part of the arrangements reached in September.

The funds will be provided under the PEACE in Ukraine program. Following the new agreement, the total project volume has reached $54.3 billion.

This is the largest investment project in the history of the World Bank. It remains one of the key mechanisms for supporting Ukraine’s financial stability.

Ukraine is using the funds not only for social benefits but also for defense.

This was announced by Ukrainian Prime Minister Serhiy Koretskyi.

Earlier, Koretskyi stated that there is no alternative to using Russia’s frozen assets.

Koretsky also noted that Ukraine is better prepared for winter.

Meanwhile, Ukraine presented projects in four areas at the Carpathian Forum.