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29
April
2022

Ukraine will receive extra EUR 495 mln in grants through World Bank MDTF from US, Norway and Austria – Finance Ministry

KYIV. April 29 (Interfax-Ukraine) – Ukraine will receive EUR 495 million in grant funds from Norway, Austria and the United States (under one grant) through the World Bank Multi-Donor Trust Fund (MDTF), the Ministry of Finance announced on Friday.

According to the report, Finance Minister Serhiy Marchenko and World Bank Regional Country Director for Eastern Europe (Belarus, Moldova and Ukraine) Arup Banerji signed the corresponding amendments to the grant agreement.

The grant will be sent to the general fund of the state budget of Ukraine to ensure priority social, humanitarian, health care costs, and support for internally displaced persons, the Finance Ministry specified.

As reported, the Trust Fund was established by the World Bank Group. On April 11, Ukraine received through MDTF some EUR 44.5 million from Sweden, on April 29 – EUR 88.5 million from Denmark (about EUR 20.5 million), Iceland (about EUR 460,000), Latvia (about EUR 5 million), Lithuania (about EUR 5 million) and the UK (about EUR 60 million).

At the end of March, Norway announced its decision to transfer NOK 200 million (about EUR 20 million) to the MDTF for Ukraine, recalling that in general it allocated NOK 2 billion for humanitarian activities and assistance to refugees in connection with the war in Ukraine. Approximately half of this amount had already been spent by the beginning of April.

Austria’s contribution to the fund, according to the World Bank, amounted to EUR10 million. On April 21, the United States announced the transfer of another $500 million to the MDTF.