Ukraine received $133 million from the World Bank to the general fund of the State Budget under the SURGE project “Supporting Reconstruction through Smart Fiscal Management”. This was reported by the Ministry of Finance.
“Ukraine is expected to receive another $396 million under the project by the end of the year, including $230 million as part of additional financing of the project”, the report says.
The main goal of the project is to ensure effective management of public investments. The program is aimed at improving the quality of fiscal management in communities, improving medium-term and program budgeting, optimizing revenue administration, as well as taking into account gender and climate aspects in financial policy.
The implementation of the project is carried out using the financial instrument “ Program-for-Results lending program” (PforR), which is based on the achievement of specific indicators tied to benefits. In order to receive a loan in 2025, Ukraine fulfilled a number of important conditions, including amending the Budget Code, approving a medium-term public investment plan and adopting a unified methodology for their management.
“Cooperation within the SURGE project contributes to the formation of a modern and effective state policy in the field of public investment management. It is important that in this process we pay special attention to gender and climate aspects, which allows us to make the policy more inclusive and resistant to future challenges. We are grateful to the World Bank for supporting Ukraine on this path,” – stressed Deputy Minister of Finance Olga Zykova.
We remind you that the SURGE project has been implemented in Ukraine since 2024. During this time, the World Bank concluded agreements with Ukraine for more than $1 billion in financing within the framework of the project, in particular, for obtaining $10 million in grant funds.
