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World Bank to allocate another $750 mln to Ukraine — Ukrainian PM

Denis Shmygal clarified that, if necessary, the funding could be increased

MOSCOW, November 8. /TASS/. The World Bank has announced the allocation of a new aid package for Ukraine in the amount of $750 million, the country's Prime Minister Denis Shmygal reported on his Telegram channel.

"The funds will be provided as part of the Supporting Reconstruction through Smart Fiscal Governance (SURGE) project, aimed at supporting the institutional reforms necessary for joining the European Union. Part of this amount will be allocated from the ADVANCE Ukraine fund, supported by the Government of Japan," he wrote, thanking the bank for its assistance.

Shmygal clarified that, if necessary, the funding could be increased.

Earlier in November, the Ukrainian government signed agreements with the World Bank, providing for the allocation of almost $600 million. As Shmygal reported then, these funds will be spent on supporting small and medium-sized businesses, green transition, improving the business environment and digitalization. He added that the total amount of the program exceeds $1 billion, it is designed to last until 2027. The Prime Minister did not specify on what conditions the funds will be provided to Kiev - as a loan or free of charge.

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