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The World Bank approved a 300 million dollar loan to Ukraine for a project to modernize the social support system for the population. Due to the COVID-19 pandemic in Ukraine, one million people are at risk of falling into poverty.
This was reported by the World Bank press service.
World Bank forecasts show that due to the COVID-19 pandemic, poverty in Ukraine may increase by 4%, reaching around 23% by the end of 2020.
“The World Bank’s support to Ukraine at this critical time, aimed at protecting the poor severely affected by the COVID-19 outbreak, has a significant poverty alleviation effect. The social protection measures that will be supported by the new loan will help poverty of about a million Ukrainians “, – said the World Bank regional director for Eastern Europe, Arup Banerjee.
Previously, RBC-Ukraine wrote that the World Bank will allocate almost $ 100 million to the Ministry of Health to combat the coronavirus.
It was also reported that the World Bank predicts the decline of the Ukrainian economy in 2020 by 5.5%.
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