The World Bank allocated 246 million dollars to Ukraine: what the funds will be used for.

According to inkorr.com: The Ministry of Finance of Ukraine has signed an agreement with the International Bank for Reconstruction and Development for 246.5 million US dollars under the SURGE program. This program aims to support the country's recovery through effective fiscal management.

Funding comes from the Targeted Fund for Credit Support of Ukraine (ADVANCE Ukraine), initiated by the Japanese government. The main goal of the project is to improve public investment management as well as to enhance fiscal management and budgeting at the local level.

'It is planned that by the end of 2025, 229.7 million US dollars will be attracted to the general fund of the State Budget. Part of the loan amounting to 16.8 million US dollars will be used to reduce Ukraine's loan servicing costs in the coming years. The agreement was signed by the Minister of Finance of Ukraine Serhiy Marchenko and the Regional Director for Eastern European Countries of the World Bank, Bob Som.'

Program and its implementation

The SURGE program started in 2024, and the total amount of agreements between the World Bank and Ukraine is 760 million US dollars. The implementation of the project occurs under the financial instrument 'Results-Based Financing Program' (PforR).

'Cooperation under the SURGE project helps manage state investments and resources more effectively, enhance the financial resilience of communities, ensure transparent use of funds, and increase taxpayer trust. We are grateful to the World Bank for supporting Ukraine and believing in our joint success in reconstruction,' emphasized Finance Minister Serhiy Marchenko after signing the agreement.

Thus, the agreement with the IBRD for 246.5 million US dollars under the SURGE program aims to improve public investment management and fiscal management, which will help restore the country and increase trust among taxpayers.