KYIV, February 29, 2024-Today, the World Bank announced an additional $760 million in donor support to help Ukraine sustain its critical government services at national and regional levels. This funding is the sixth Additional Financing for the Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) Project that continues to provide support for the wages for teachers, first responders and emergency services staff, as well as social assistance for internally displaced persons and the elderly.
The grant is supported by the PEACE Co-Financing Multi-Donor Trust Fund and the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF).
To date, World Bank-mobilized support has enabled the Government of Ukraine to provide essential services that are reaching more than 15 million Ukrainians, including 10 million pensioners, 500,000 education employees of educational institutions, 145,000 government employees, 56,000 first responders, and over three million social assistance recipients. With the support of the project, 100% of government has continued to exercise its core functions, 98% of pensions were paid on time, and over 90% of internally-displaces persons and social assistance recipients were paid on time.
The PEACE project in Ukraine is supported by contributions, including through the URTF, from Austria, Belgium, Canada, Denmark, Iceland, Indonesia, Ireland, Finland, Germany, Japan, the Netherlands, Norway, Latvia, Lithuania, Spain, Sweden, Switzerland, the Republic of Korea, the United Kingdom, and the United States. With today's announcement the World Bank Group has mobilized nearly $42 billion in emergency financing in support of the people of Ukraine, including commitments and pledges from donors.
