A man wearing a protective face mask walks past a monument dedicated to architect Vladislav Gorodetsky decorated with the same kind of mask in the center of Ukrainian capital of Kyiv on April 04, 2020 amid the COVID-19 coronavirus pandemic.
The World Bank approved a $150 million loan to Ukraine for support of the low-income population amid the COVID-19 pandemic. On May 1, the bank approved additional financing for Ukraine in the amount of $150 million under the project for modernization of the system of social support for the population of Ukraine with the aim of expanding and improving social assistance to low-income families, Ukrainian language media reported.
The World Bank stated: “Thousands of Ukrainian families are already facing difficulty paying for housing and utility services because people are losing their incomes. Pensioners can’t afford to buy even basic medicines and food due to rising prices. It is important to help those people by making social payments swifter and more targeted. The additional financing will also support start-up grants for small businesses, known in Ukraine as the “Hand of Help,” which will support the poor in learning new skills, finding a job, or opening a business,” Alex Kremer, the World Bank acting country director for Belarus, Moldova, and Ukraine, said.
