REUTERS
The country may get US$50 million as early as in May this year.
Ukraine's Social Policy Ministry says it has signed a loan agreement with the World Bank on US$150 million in additional funding under the project, titled "The Social Assistance System Modernization Project," to expand social assistance to low-income families.
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"Under the signed loan agreement, Ukraine will receive, in particular, US$50 million to support vulnerable groups in society amid the COVID-19 pandemic and US$100 million to improve the level of social protection of the most vulnerable categories of the population," the ministry's press service said on its website on May 5.
"Some US$50 million, which Ukraine may get as early as in May this year to strengthen social support for the population amid measures taken to overcome the COVID-19 pandemic, will be allocated for the support of the most vulnerable segments of the population. The funds will be used to increase the amount of subsidies for the quarantine period, while special conditions will be set for assigning this type of support to those who have lost their jobs over the quarantine," the report said.
The funds provided under the project will be transferred to Ukraine's national budget if the government provides increased efficiency of aid and targeted state support for vulnerable groups of society, as well as the introduction of additional social services to overcome poverty.
At the same time, it is planned to improve the program of assistance to low-income families to promote comprehensive and fair coverage of vulnerable groups. It is also envisaged to take measures to reduce the dependence of recipients on social benefits, ensure targeted housing subsidy programs and other measures designed to ensure the effectiveness of social support and improve the living standards of citizens.
As UNIAN reported earlier, the World Bank's Board of Directors on April 27 approved US$135 million in additional financing for the Serving People, Improving Health Project, to scale-up Ukraine's health sector response to the COVID-19 pandemic.
UNIAN memo. In 2015, Ukraine and the International Bank for Reconstruction and Development (part of the World Bank Group) signed an agreement to implement the Serving People, Improving Health Project for Ukraine. Within its framework, Ukraine is set to receive US$215 million worth of assistance.