World Bank allocates $750 million to Ukraine: what will the funds be used for
Kyiv • UNN
The World Bank will provide Ukraine with $750 million under the SURGE project to support institutional reforms. The funds will be used to strengthen state institutions and improve public financial management.
The World Bank is providing Ukraine with $750 million to support institutional reforms, Prime Minister Denys Shmyhal said on Telegram on Friday, UNN reports.
Details
"The World Bank has announced a new support package for Ukraine worth $750 million. 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 accession to the European Union. Part of this amount will be allocated from the ADVANCE Ukraine fund supported by the Government of Japan," Shmyhal wrote.
According to him, the implementation of the program will help strengthen the work of state institutions in times of war and provide key public services to citizens in full. The reforms under the project are aimed at improving the efficiency of public investment and public finance management. If necessary, funding can be increased.
"We are grateful to the leadership of the World Bank and our international partners for this important support for Ukraine in the face of a full-scale war unleashed by Russia," the Prime Minister said.
