The Cabinet of Ministers of Ukraine has approved attracting $1.2 billion from the International Bank for Reconstruction and Development (IBRD) to support the social sector, Prime Minister Denys Shmyhal said.
“Today we are making a decision that will allow us to attract $1.2 billion from the World Bank Group (IBRD) to support the social sector,” Shmyhal said at a government meeting on Friday.
According to him, these are funds under the guarantees of the Japanese government, which Ukraine will use for social protection of Ukrainian families and children, social protection of people with disabilities and other important social programs.
Preparation of new framework projects “Lifting up Education And Results in Times of Need” (LEARN) and “Investing in Social Protection for Inclusion, Sustainability and Efficiency” (INSPIRE) was discussed by the Ministry of Finance of Ukraine and representatives of the World Bank on August 29.
According to the Ministry of Finance on its website on Wednesday, the estimated cost of these projects is $500 million and $1.2 billion, respectively.
It is specified that also in the center of attention was a new project “Strengthening the health care system and preservation of life” (Heal Ukraine), announced earlier this year in the amount of EUR 368 million.
The Ministry of Finance reminded that the projects “Improvement of Higher Education in Ukraine for Results” in the amount of $200 million and “Modernization of the System of Social Support of the Population of Ukraine” in the amount of $750 million are currently being implemented.
It is indicated that at the meeting Deputy Minister of Finance Roman Yermolichev noted the importance for Ukraine to implement measures aimed at the formation of human capital, in particular the development of health care, education and social protection.
“For us now one of the main challenges is to work out effective measures and incentives for our citizens to return to Ukraine and invest their capital in the development and restoration of the state. In addition, we also have to work out the necessary solutions to make school education qualitative and effective for children,” he said.
In his opinion, the new joint LEARN project will provide the urgent needs for the reconstruction of the education sector in Ukraine.
The deputy minister added that special attention was paid to the continuation of the New Ukrainian School reform.
