Ukraine and the International Bank for Reconstruction and Development have signed a loan agreement for $246.5 million under the SURGE program. The funds will be raised from the ADVANCE Ukraine fund, which is supported by the government of Japan.
This was reported by the government press service.
The projectʼs goal is to support the efforts of the Government of Ukraine to create an effective public investment management system in the context of post-war recovery and reconstruction, improve fiscal management at the local level, improve medium-term and program budgeting at the local level, and improve revenue administration.
It is planned that by the end of 2025, $229.7 million will be attracted to the general fund of the State Budget. Part of the loan — $16.8 million — will be directed to the capitalization of interest to reduce the cost of servicing Ukraineʼs credit obligations in the coming years.
- The SURGE project has been implemented in Ukraine since 2024. During this time, the World Bank has concluded agreements with Ukraine for $760 million in financing within the project, in particular, for receiving $10 million in grant funds.
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