IBRD grants Ukraine 300-mln-USD loan to support low-income families

  • World
  • Tuesday, 15 Dec 2020

KIEV, Dec. 14 (Xinhua) -- Ukraine has signed an agreement on a 300-million-U.S.-dollar loan with the International Bank for Reconstruction and Development (IBRD) and will receive the first tranche of 170 million U.S. dollars by the end of this year, Ukrainian Ministry of Finance reported on its official website on Monday.

According to Ukrainian Finance Minister Serhiy Marchenko, the loan is part of the project "Modernization of the social support system of the population of Ukraine", which amounts to 750 million U.S. dollars in total.

The project has been implemented since 2014, which aims to provide social assistance and social services for low-income families, as well as assistance to families suffering from the COVID-19 pandemic.

IBRD is a member of the World Bank. Since 1992, World Bank has implemented over 80 projects and programs worth 14 billion U.S. dollars in Ukraine, becoming one of the largest lenders and investors in the country.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Next In World

South African president Ramaphosa to make state visit to UK
From remote coral reefs to your sofa, citizen science spreads everywhere
Australia to rescue families of Islamic State fighters from Syria
Zelenskiy says Ukraine forces liberated Arkhanhelske, Myrolyubivka in Kherson region
Bosniak, Croat moderate leaders set to win seats in Bosnia's presidency
Cholera kills at least seven in Haiti as disease returns
Zelenskiy says success of Ukraine's soldiers "not limited to Lyman"
Lula leads Bolsonaro in Brazil election as first votes tallied
White House's Sullivan meets Ukraine's Yermak in Istanbul, pledges U.S. support
EU leaders to discuss next steps on energy, Ukraine

Others Also Read