Govt plans to raise USD 300M to modernize social support system

Govt plans to raise USD 300M to modernize social support system

Ukrinform
The Cabinet of Ministers approved a draft decree of the President of Ukraine on the composition of a Ukrainian delegation to take part in talks with the International Bank for Reconstruction and Development (IBRD) in order to obtain a USD 300 million loan to overcome the consequences of the COVID-19 pandemic, namely to modernize the social support system.

The Government’s representative in the Verkhovna Rada, Vasyl Mokan, wrote about this on his Facebook page on Monday, an Ukrinform correspondent reports.

"At today's extraordinary meeting, the Cabinet of Ministers approved the draft decree of the President of Ukraine "On the delegation of Ukraine to participate in negotiations with the International Bank for Reconstruction and Development (IBRD) regarding the conclusion of a loan agreement (the second additional funding aimed at overcoming the consequences of the COVID-19 pandemic for the project "Modernization of the social support system for the population of Ukraine") between Ukraine and the IBRD", as well as a draft of the corresponding government resolution," the report reads.

The draft decree stipulates that it is expedient to attract a loan from the IBRD for the implementation of the investment project "The second additional funding aimed at overcoming the consequences of the COVID-19 pandemic" and to raise USD 300 million for the project "Modernization of the social support system for the population of Ukraine."

"The loan will enable the government to raise additional funds to improve the performance of the social assistance and social services system in Ukraine," Mokan added.

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