The World Bank has announced a new aid package for Ukraine worth $750 million. This was announced by Prime Minister Denys Shmyhal on his Telegram channel.
The head of government explained that the funds will be provided under the Support for Ukraine’s Recovery through Reforms in Reasonable Fiscal Governance (SURGE) project, which aims to support institutional reforms necessary for Ukraine’s integration into the EU. Part of the funding will be allocated from the ADVANCE Ukraine fund, funded by the Government of Japan.
According to the Prime Minister, this project will strengthen the work of state institutions in times of war and provide citizens with the necessary services.
SURGE reforms are focused on improving the efficiency of public finance and investment management. Shmyhal also added that the amount of funding could be increased if necessary.
The Prime Minister thanked the World Bank and international partners for their significant support in the face of the war waged by Russia.
As a reminder, on 4 November, Shmyhal announced the signing of agreements worth almost $600 million with the World Bank under the new Sustainable, Inclusive and Environmentally Balanced Enterprise (RISE) programme.
