World Bank approved a $ 300 million loan for Ukraine. The purpose of the loan is to help the country prevent poverty due to the coronavirus pandemic. This is reported in a press release at bank site .
This is the second bank loan for Kiev in 2020 for social purposes. “This additional funding will help strengthen the guaranteed minimum income program in Ukraine and will help approximately one million Ukrainians fall below the poverty line due to the COVID-19 pandemic,” the statement said.
The program “Modernization of the social support system for the population of Ukraine”, under which the country will receive additional funding, was launched in 2014. The Ukrainian state received the previous loan for this project earlier in 2020, its volume amounted to $ 150 million. Then the Ukrainian Ministry of Finance reported that 50 million would be spent on fighting the pandemic, and the rest – to support low-income households.