World Bank announces USD 750M support package for Ukraine – PM
The World Bank has announced a new support package for Ukraine amounting to USD 750 million.
According to Ukrinform, this was shared by Prime Minister Denys Shmyhal on Telegram.
Shmyhal explained that the funds will be provided under the Supporting Reconstruction through Smart Fiscal Governance (SURGE) project, which aims to support the institutional reforms necessary for Ukraine's accession to the European Union. A portion of this funding will come from the ADVANCE Ukraine fund, backed by the Japanese government.
The implementation of this program will strengthen the functioning of state institutions during wartime and ensure the provision of essential public services to citizens in full, noted the Prime Minister.
The reforms within the SURGE project are focused on improving the efficiency of public investment management and state finances. Shmyhal emphasized that if needed, the funding could be increased.
He expressed gratitude to the leadership of the World Bank and international partners for their crucial support of Ukraine amid the full-scale war launched by Russia.
As previously reported by Ukrinform, on November 4, Shmyhal announced that Ukraine had signed agreements with the World Bank worth nearly USD 600 million under a new program Resilient, Inclusive, and Sustainable Entrepreneurship (RISE).