World Bank again proves its support for Ukraine in overcoming effects of COVID-19 pandemic – Marchenko

World Bank again proves its support for Ukraine in overcoming effects of COVID-19 pandemic – Marchenko

Ukrinform
Today, December 14, Ukraine and the International Bank for Reconstruction and Development (IBRD) signed the Agreement on the Second Additional Financing, aimed at overcoming the consequences of the COVID-19 pandemic, under the Social Safety Nets Modernization Project.

The Ministry of Finance, in cooperation with the Ministry of Social Policy, has made every effort to prepare the agreement as soon as possible, thanks to which Ukraine will be able to attract a USD 300 million loan, USD 170 million of which - by the end of this year, according to the Government portal.

Finance Minister Serhiy Marchenko thanked all participants of the negotiation process for constructive cooperation. "The signing of the Agreement on the Second Additional Financing for the Social Safety Nets Modernization Project is a logical end of the year, in which the World Bank has once again demonstrated its effective support to combat the effects of the spread of COVID-19. The main goal is to provide social assistance and social services for low-income families, as well as help those affected by the negative economic impact of the COVID-19 pandemic," he said.

The ongoing Social Safety Nets Modernization Project and two additional financings (total of USD 750 million) are supporting Ukraine’s poverty reduction reforms and policies for protecting the poor, together with programs to systematically graduate families out of poverty. 

ish


Let’s get started read our news at facebook messenger > > > Click here for subscribe

While citing and using any materials on the Internet, links to the website ukrinform.net not lower than the first paragraph are mandatory. In addition, citing the translated materials of foreign media outlets is possible only if there is a link to the website ukrinform.net and to the website of a foreign media outlet. Citing and using materials in offline media, mobile apps, Smart TV are allowed only with written permission from Ukrinform. News and publications marked as "Advertisement" and "PR" and articles in the section "Releases" include promoted content, and an advertiser is responsible for the content.

© 2015-2021 Ukrinform. All rights reserved.

Website design Studio Laconica

Extended searchHide extended search
By period:
-