Ukraine receives $133 mln under World Bank SURGE project to support fiscal governance

Ukraine received $133 million to the general fund of the state budget from the World Bank under the SURGE project "Supporting Reconstruction Through Smart Fiscal Governance," the Ministry of Finance reported on its website.

"It is expected that Ukraine will receive another $396 million under the project by the end of the year, including $230 million as additional financing for the project," the ministry noted.

The project's main goal is to ensure the effective management of public investments. The project aims to improve fiscal management in communities, enhance medium-term and program budgeting, optimize revenue administration, and incorporate gender and climate considerations into financial policy.

It should be noted that the project is being implemented using the Program-for-Results (PforR) financial instrument, which is based on achieving specific performance indicators linked to disbursements. In order to receive a loan in 2025, Ukraine fulfilled several important conditions. Notably, it amended the Budget Code, approved a medium-term public investment plan, and adopted a unified governance methodology.

The SURGE project has been implemented in Ukraine since 2024. During this time, the World Bank has concluded agreements with Ukraine for over $1 billion in project financing, including $10 million in grant funds.