The World Bank approved Friday night a $300 million loan to help “prevent

The World Bank approved Friday night a $300 million loan to help “prevent around 1 million Ukrainians from falling into poverty due to the COVID-19 pandemic,” the Bank’s Board of Executive Directors reported from Washington. The loan is designed to get “fast cash transfers to individuals and households who have lost their jobs or income sources because of the pandemic,” the Bank said. “According to World Bank estimates, 60 percent of the Ukrainians who may fall into poverty because of the COVID-19 outbreak do not currently benefit from any existing social protection program.” The money follows a similar $150 million loan approved last April under the Bank’s Covid-19 ‘Social Safety Nets’ project.