Ukraine will receive USD 150 million from the World Bank

Ukraine will receive USD 150 million from the World Bank. The relevant decision was made on April 30, 2020 by the Board of Directors of the Bank.

The funds will be used for additional financing of the project «Modernization of the social support system of Ukraine’s population», implemented in Ukraine with the support of the World Bank since 2014 and to expand and improve social assistance for low-income families. 

USD 50 million of the total will be used to combat the spread of the COVID-19 pandemic. One-off payments will also be provided to the elderly and recipients of disability-related social assistance.

«Thousands of Ukrainian families already have difficulty paying for utilities due to loss of income. Seniors cannot afford to buy even the most essential medicines and food because of rising prices. It is important to help these people by accelerating social payments and raising their targeting», - said Alex Kremer, World Bank Acting Country Director for Belarus, Moldova, and Ukraine. 

The funds involved are planned to be used in 2020-2022.