Ukraine says it received $1.25B from US through World Bank

ISTANBUL

Ukraine said on Wednesday that it received $1.25 billion from the US under the World Bank’s Public Expenditures for Administrative Capacity Endurance (PEACE) instrument.

“The funds will be used to support the state budget, especially for social & humanitarian spending. Grateful to the US & the World Bank. We appreciate the help of our partners in the fight against the aggressor,” Ukrainian Prime Minister Denys Shmyhal said on Twitter.

PEACE is a financing instrument for Ukraine providing international donors a way “to unite their efforts to provide fast, targeted and predictable support,” according to the World Bank. ​​​​​​​

The Ukrainian Finance Ministry said in a statement on May 8 that the country received $14.5 billion from international donors through the instrument.​​​​​​​