Ukraine received $1.34 billion under World Bank project – finance ministry

KYIV (Reuters) – Ukraine received $1.34 billion under the World Bank’s public expenditures for administrative capacity endurance in Ukraine, the Ukrainian finance ministry said on Monday.

The ministry said in a statement the financing consisted of a $1.086 billion loan from the World Bank, $190 million grant from Norway, $50 million grant from the United States and $20 million grant from Switzerland.

The ministry said the funds would be used to partially compensate for non-security and defence-related expenditures of the Ukrainian state budget, including old-age social payments and payments to employees of the state emergency service.

“International financial assistance is a significant contribution to maintaining Ukraine’s financial and economic stability and allows us to provide priority social expenditures during the war,” Ukraine’s finance minister Serhiy Marchenko said.

(Reporting by Pavel Polityuk; Editing by Kirsten Donovan and Andrew Cawthorne)