Total World Bank-Mobilized Support Now Stands at $17.8 Billion
WASHINGTON, November 22, 2022-The World Bank Group today announced an assistance package for Ukraine of $4.5 billion in additional grant financing provided by the United States government. The grant is mobilized under the World Bank’s Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) Project, which aims to help the Government of Ukraine sustain essential services and core government functions at the national and regional levels.
As with previous financing packages under the PEACE project, the grant will help the Government of Ukraine pay wages for hospital workers, government and school employees, pensions for the elderly, salaries for public servants, and social programs for the vulnerable.
“Amid the ongoing war and the escalating destruction of infrastructure, our commitment to deliver urgent assistance to the people of Ukraine is strong as ever,” said World Bank Group President David Malpass. “This generous additional grant from the United States comes at a critical time as the country faces severe energy supply disruption and colder weather. The World Bank Group will continue to mobilize all available resources to help the Government of Ukraine meet vital needs for its citizens.”
The additional financing adds to several previously announced packages for the PEACE project, including the $1.49 billion Investment Project Financing (IPF) in June, the $4.5 billion in grant financing in August, and $530 in loan guarantees in September 2022. See a full list of World Bank mobilized financing.
To date, the World Bank has mobilized close to $17.8 billion in emergency financing in support of the people of Ukraine, including commitments and pledges from donors: more than $11.4 billion of this financing has been disbursed. This vital support has helped address the devastating human and economic impacts of the on-going war.