Ukraine and the International Bank for Reconstruction and Development have signed a loan agreement for $246.5 million. The funds will be raised from a fund supported by the Japanese government. This was reported by the press service of the Cabinet of Ministers, writes UNN.
The key goal of the project is to support the efforts of the Ukrainian government aimed at creating an investment management system in the context of post-war recovery and reconstruction.
It is planned that by the end of 2025, $229.7 million will be attracted to the state budget. Part of the loan, amounting to $16.8 million, will be used to capitalize interest in order to reduce the cost of servicing Ukraine's credit obligations.
The SURGE project has been implemented in Ukraine since 2024. During this time, the World Bank has signed agreements with Ukraine for $760 million.
"Cooperation within the SURGE project allows us not only to more effectively manage public investments and resources, but also to increase the financial stability of communities, the transparency of funds use, and taxpayer confidence," said Ukrainian Finance Minister Serhiy Marchenko.