Ukraine will soon receive C$1.17 billion (us$841 million) from the International Bank for Reconstruction and Development (IBRD), backed by a guarantee from the Government of Canada. The financing will provide budget support by reimbursing State Budget expenditures as old-age social payments.
Following the signing of the agreement, the total volume of the Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE in Ukraine) Project will reach USD 54.3 billion. PEACE in Ukraine is the largest investment project in the World Bank’s history.
“PEACE remains one of the most effective instruments for supporting Ukraine’s State Budget. Thanks to the new financing backed by Canada’s guarantee, we will be able to ensure funding for critical social expenditures. I am grateful to the Government of Canada and the World Bank for their consistent and timely support for Ukraine,” said Sergii Marchenko.
Ministry of Finance of Ukraine News Release