Ukraine to attract $170 mln loan from World Bank by late 2020 – Finance ministry

12:50, 14.12.2020 1 min read

By the end of 2020, Ukraine plans to attract a $170 million loan from the World Bank out of the $300 million provided, the Finance Ministry said on Monday.

"Today, on December 14, Ukraine and the International Bank for Reconstruction and Development signed an agreement on the second additional financing in response to the COVID-19 pandemic for the Social Safety Nets Modernization Project," the Ministry of Finance said in a message on the website.

"The main goal is social assistance and social services for low-income families, as well as assistance to those affected by the adverse economic impact of the pandemic," the press service said, quoting Minister Serhiy Marchenko.

As the Ministry of Finance recalled, this is the second additional financing of the specified project, the total amount of the loan for it should be $750 million.