Ukraine to draw $1.2 bln from IBRD to support social sector

The Ukrainian government has approved a $1.2-billion borrowing from the International Bank for Reconstruction and Development (IBRD) to support the social sector, Ukrainian Prime Minister Denis Shmygal said, Azernews reports, citing Interfax.

"The decision we make today will allow us to draw $1.2 billion from the World Bank Group (the IBRD) to support the social sector," Ukrainian media quoted Shmygal as saying at a government meeting on Friday.

The funds will be allotted on guarantee of the Japanese government and will be spent on social protection of Ukrainian families with children and disabled persons, as well as other important social programs, Shmygal said.