The WB will grant Kiev a significant loan for social assistance to Ukrainians

The World Bank has approved a $ 300 million loan for social support to poor Ukrainians.

The World Bank will grant Ukraine a $ 300 million loan for a project to modernize the social support system for the population, the World Bank press service said on Saturday, December 12.

“The Executive Board of the World Bank decided today to grant Ukraine a loan of $ 300 million for a project to modernize social support to the population in the amount of $ 300 million for the second additional financing destined to overcome the consequences of the pandemic of COVID-19, to the project Modernization of the social support system for the population “. message.

The first tranche of additional financing for this project in the amount of $ 150 million was agreed on April 30.

“The additional funding will strengthen the provision of social assistance to low-income families through the appropriate state social assistance program, which will prevent 1 million Ukrainian citizens from falling into poverty due to the COVID-19 pandemic,” the message reads. .

We will recall, on December 9, Ukraine borrowed 600 million euros from the European Commission.

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