Christmas comes early for Ukraine with World Bank loan

RUSSIA / FSU POLITICS - In Brief 14 Dec 2020 by Alex Teddy
On December 12 it was announced that the World Bank is lending Kyiv is USD 300 million. The loan is aimed to help low income people. The economy has been roiled by coronavirus. Up to 23% of people in Ukraine are in poverty. Unemployment has spiked. A loan due to be granted in April 2021 is being brought forward in addition. 885 000 people have contracted coronavirus in Ukraine. There have been 15 000 deaths. Closing bars and restaurants has hit the economy. The World Bank shall also assist Kyiv in buying vaccines.Ukraine's economy has contracted by over 11%.At the start of December 2020 the World Bank started a USD 100 million project to help Luhansk and Donbass' economies recover. These are rebel held regions.

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