December 14, Ukraine and the International Bank for Reconstruction and Development (IBRD) signed an agreement on the second additional financing aimed at overcoming the consequences of coronavirus pandemic for the project “Modernization of the social support system for the population of Ukraine”, the Ministry of Finance of Ukraine said.
Thus, thanks to the agreement, Ukraine will be able to attract a loan of USD 300 million, 170 of which – by the end of this year.
“The signing of the agreement on the second additional financing for the project “Modernization of the social support system for the population of Ukraine” is the logical conclusion of the year in which the World Bank once again proved its effective support aimed at combating the consequences of the spread of coronavirus. The main goal is social assistance and social services for low-income families, as well as assistance to those affected by the negative economic impact of the pandemic,” said Finance Minister Serhii Marchenko.
The Ministry of Finance reminded that this will be the second additional financing of the project “Modernization of the social support system for the population of Ukraine”, the total loan amount for which will be USD 750 million. The project is aimed at improving the performance of the social assistance system and social services in Ukraine for low-income families.
In addition, an agreement is expected to be signed on the “Eastern Ukraine: Reunification, Recovery and Revival (Project 3B)” project aimed at improving transport links and supporting the restoration of the agricultural sector in the Luhansk region.
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