The World Bank has announced a new support package for Ukraine worth $750 million. These 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.
This was announced by Prime Minister of Ukraine Denys Shmyhal on the morning of November 8, Suspilne reports.
It is noted that part of the amount will be allocated from the ADVANCE Ukraine fund, supported by the Government of Japan.
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. Reforms under the project are aimed at improving the efficiency of public investment and public finance management. If necessary, funding can be increased, – Shmyhal emphasized.
On November 4, Denys Shmyhal said that Ukraine had signed agreements with the World Bank worth almost $600 million under a new program that was agreed upon during meetings at the Spring Meetings in Washington. This is a new project called Resilient, Inclusive and Sustainable Enterprise (RISE), which aims to support small and medium-sized businesses, green transition, improve the business environment, digitalize and facilitate entry into new markets.
The project is designed to run until 2027, and the total planned amount of the program is more than $1 billion.
