World Bank to provide $841 million for Ukraine pensions

Ukraine is set to receive $841 million in financing from the World Bank to support its state budget, specifically to offset expenditures for pension payments. This funding is backed by guarantees from the Canadian government and is part of the ‘PEACE in Ukraine’ project, officially known as the ‘Public Expenditures for Administrative Capacity Endurance in Ukraine’ project.

Following a meeting between Ukrainian Finance Minister Serhiy Marchenko and World Bank officials, a loan agreement was signed under the project’s Tenth Additional Financing. Once finalized, the total volume of the PEACE project will reach $54.3 billion, making it the largest investment project in the history of the World Bank.

In addition to the pension support, Canada has committed 40.1 million Canadian dollars to a new international multi-donor veterans’ fund. This fund aims to support recovery, rehabilitation, and the transition to civilian life for Ukrainian veterans and their families.