Ukraine has received $133 million from the World Bank under the SURGE project, “Supporting Recovery through Smart Fiscal Management.” The funds were transferred to the state budget’s general fund.
It is expected that Ukraine will receive an additional $396 million under the project by the end of the year, including $230 million through additional project financing.
The main goal of the project is to ensure effective management of public investments. It aims to improve the quality of fiscal governance in communities, enhance medium-term and programme-based budgeting, optimize revenue administration, and incorporate gender and climate considerations into financial policy.
The project is implemented using the “Programme-for-Results” (PforR) financing instrument, which is based on achieving specific results linked to disbursements.
To access the 2025 loan, Ukraine fulfilled several key conditions, including amendments to the Budget Code, approval of a medium-term public investment plan, and adoption of a unified methodology for managing public investments.
“Collaboration within the SURGE project helps shape modern and effective public policy in managing public investments. Importantly, we pay special attention to gender and climate aspects, making policy more inclusive and resilient to future challenges. I am grateful to the World Bank for supporting Ukraine on this path,” emphasized Deputy Minister of Finance Olga Zykova.
The SURGE project has been implemented in Ukraine since 2024. During this period, the World Bank has signed agreements with Ukraine for over $1 billion in financing under the project, including $10 million in grant funds.
