KYIV, May 4 – The World Bank board of directors approved $150 million social project to support low-income families in Ukraine facing hardships due to the coronavirus pandemic.

"Thousands of Ukrainian families are already facing difficulty paying for housing and utility services because people are losing their incomes. Pensioners can't afford to buy even basic medicines and food due to rising prices. It is important to help those people by making social payments swifter and more targeted. The additional financing will also support start-up grants for small businesses, known in Ukraine as the "Hand of Help," which will support the poor in learning new skills, finding a job, or opening a business," Alex Kremer, the World Bank Acting Country Director for Belarus, Moldova, and Ukraine, said.