WASHINGTON, November 30, 2023 — A new World Bank project, Investing in Social Protection for Inclusion, Resilience, and Efficiency (INSPIRE), approved today, will provide additional support to 29 social assistance programs targeting the most vulnerable people in Ukraine affected by the devastating impacts of Russia’s invasion of Ukraine. The poorest households need adequate support to mitigate the impacts of the on-going war to avoid slipping further into poverty.
The INSPIRE project is financed by a $1.2 billion World Bank loan, backed by a credit enhancement from the Advancing Needed Credit Enhancement for Ukraine (ADVANCE Ukraine) Trust Fund, supported by the Government of Japan.
Implemented by Ukraine’s Ministry of Social Policy, the project specifically aims to help people with disabilities, orphans, children under guardianship, foster families, socially vulnerable students, and victims of the Chornobyl nuclear disaster and human trafficking. The INSPIRE project will also support the reform efforts of the Government of Ukraine to improve the coverage and efficiency of important social safety net programs, such as the Guaranteed Minimum Income, Housing and Utilities Subsidy, and Internally Displaced Persons assistance program.
“This project is expected to reach almost 10 million Ukrainians at a time of greatest need. It will strengthen the Government of Ukraine’s capacity to provide social support to the poor and vulnerable at a critical time, when winter is coming and millions of Ukrainians need additional support to pay their bills and heat their homes,” said Arup Banerji, the World Bank Regional Country Director for Eastern Europe.
The INSPIRE project is an integral part of the international support package for Ukraine to meet its financing needs through 2024. Other ongoing projects include emergency operations for health, transport, energy, housing, and agriculture that have mobilized partner resources through a flexible design to disburse funds quickly and can be scaled as necessary when additional financing becomes available.
Since Russia’s invasion of Ukraine, World Bank-mobilized support has enabled the Government of Ukraine to provide essential services that are reaching more than 15 million Ukrainians. With today’s announcement the World Bank has now facilitated over $38 billion in emergency financing to support Ukraine, including commitments and pledges from donors including: the United States, Japan, the United Kingdom, Norway, the Netherlands, Spain, Germany, Canada, Switzerland, Sweden, Denmark, Austria, Finland, Iceland, Ireland, Indonesia, Lithuania, Latvia, Belgium and the Republic of Korea.
