Multi-Donor Trust Fund for Co-financing of the Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE)

Description What is done in the programme or project and why, what results are pursued, who benefits from the activities and who are involved in the implementation.

The Russian invasion in Ukraine on 24 February 2022 has led to considerable economic losses and human suffering in Ukraine. The decline of Ukraine’s economy is risking the already achieved development results and raises poverty among the population. The World Bank’s Public Expenditures for Administrative Capacity Endurance (PEACE) trust fund in Ukraine supports the Government of Ukraine in sustaining core government functions at the national and regional levels by funding the non-security sector expenses. The support enables the Government of Ukraine to maintain control over functions such as collecting revenues, making social payments, responding to emergencies and to maintain 90% schools functioning by covering teachers’ salaries. Finland supports Ukraine’s resilience and long term reforms. The objectives of Finland’s country strategy in Ukraine include protecting Ukraine’s territorial integrity and sovereignty and safeguarding the respect of international law. The provided support contributes to Finland's development policy priorities on promoting peaceful and democratic societies and sustainable economy and education in accordance with the Government's Report on Development Policy Across Extending Parliamentary Terms.