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Ukraine and the World Bank signed an agreement for $1.2 billion

Photo: Ministry of Social Policy of Ukraine

The goal of the INSPIRE project is to finance 29 types of social benefits to the most vulnerable segments of the population of Ukraine.

Ukraine will receive a loan from the World Bank for $1.2 billion to finance social payments. The Ministry of Social Policy announced this on Tuesday, December 5.

It was noted that the corresponding agreement was signed by the Minister of Social Policy Oksana Zholnovich and the Director of the World Bank for Belarus, Moldova and Ukraine Arup Banajeri.

This is a new project: Investing in Social Protection for Inclusion, Sustainability and Effectiveness (INSPIRE). Its purpose is to finance 29 types of social benefits to the most vulnerable segments of the population, as well as to support reforms in the field of social protection in Ukraine.

“The INSPIRE project is financed by a $1.2 billion World Bank loan from the ADVANCE Ukraine Trust Fund, which is supported by the Japanese government,” the statement said.

It was previously reported that the World Bank will provide $700 million to Ukrainian farmers through the program Available loans 5-7-9.

The World Bank insured the first investment projects in Ukraine against war risks.

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Source: korrespondent

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