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The Executive Board of the World Bank has decided to grant Ukraine a loan of 300 million dollars (about 8.4 billion UAH). The money should be spent on social protection.
This is indicated on the bank’s official website. Therefore, the loan received will guarantee a minimum income of 1 million Ukrainians. World Bank forecasts show that due to the COVID-19 epidemic, poverty in Ukraine could increase by 4 percent, reaching around 23 percent by the end of 2020.
“Poor households will receive benefits under the national GMI program. The loan also supports the expansion of Ukraine’s social protection in the coming years. The World Bank estimates that 60 percent of Ukrainians who may be below the Poverty threshold due to the COVID-19 outbreak are not currently enjoying existing social protection programs, “the bank said in a statement.
In total, the World Bank will allocate a loan of $ 750 million (UAH 21.1 billion), which will be spent on the fight against poverty in Ukraine. “The World Bank’s support to Ukraine at this critical time to protect the poor affected by the COVID-19 outbreak has a significant impact on reducing poverty,” said Arup Banerjee, World Bank Regional Director for Eastern Europe ( Belarus, Moldova and Ukraine). ).
As OBOZREVATEL reported:
