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.
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