IBRD to allocate USD 300 million to Ukraine for social assistance program

The International Bank for Reconstruction and Development has decided to allocate Ukraine USD300 million for a social assistance program, said the PM at a Cabinet’s meeting held on Wednesday, July 9.

According to him, these funds will be focused primarily on benefits and compensations, targeted subsidies for citizens of Ukraine caused by the growth of prices and tariffs. From this amount, USD100 million goes directly to the assistance program, launched by the Ministry of Social Policy of Ukraine.

The Prime Minister has addressed Minister for Social Policy Lyudmila Denisova, so that by this fall, when the citizens of Ukraine will receive payment orders with higher tariffs, the Government to "clearly complete preparations for a compensation program for Ukrainians caused by the growth of prices and tariffs."

"This is the most ambitious program of compensation for low-income citizens of Ukraine, under which gets 30 per cent of the population. This means that every third since autumn should receive state assistance. This means billions of costs from the budget, but this is the responsibility of the Government to support low-income people," he stressed.

"Our program with the International Bank for Reconstruction and Development should help us to maintain social stability. It will be difficult, and we will do our best in order to create a damper for low-income citizens", said the Prime Minister.