WASHINGTON, Dec. 20, 2022—The World Bank Group today announced a new financing package that includes projects to boost relief and recovery efforts for Ukraine amid the ongoing war. The World Bank will provide additional financing of $500 million through an IBRD loan that is supported by a guarantee from the United Kingdom for the same amount and mobilized under the Public Expenditures for Administrative Capacity Endurance (PEACE) Project. The World Bank will also support Ukraine with a new project to restore and improve access to health care and address new and urgent needs for health services due to the war.
The additional $500 million in IBRD lending for the PEACE Project will help the Government of Ukraine with expenditures related to child and family benefits, salaries of public employees, and utility payments. Maintaining these critical public services is essential to limiting the loss of human capital and rebuilding the country and its economy after the war. To date, we estimate that 12 million people in Ukraine have benefitted from the PEACE project.
