In December, Ukraine received USD 196.3 million in concessional financing from the World Bank under the guarantees of the Government of Japan through the ADVANCE Ukraine fund.
This was announced in a statement by the Ministry of Finance, Ukrainian News Agency reports.
The funds were attracted within the framework of the SURGE project - "Support to Ukraine's Government Reforms."
The financing was received in the general fund of the State Budget of Ukraine and is aimed at strengthening the sustainability of public finances.
The SURGE project has been implemented in Ukraine since the end of 2024. As of today, the World Bank has concluded agreements with Ukraine for over USD 1 billion within the framework of the program, including USD 10 million in grant financing for the effective implementation of institutional reforms.
The project is being implemented using the Program-for-Results Financing (PforR) instrument - financing directly related to the achievement of specific reform results. Each tranche is a confirmation of the implementation of the specified performance indicators.
To receive the next funding, Ukraine fulfilled a number of key conditions, including:
- more than 300 communities received additional grants after the implementation of updated criteria and procedures for resource allocation;
- at least 400 communities integrated gender information into medium-term budget plans and published relevant documents, which increases budgeting transparency and reduces corruption risks;
- at least 50 specialists from central executive bodies were trained in public investment management under new procedures, in particular, on the integration of climate aspects into the decision-making process;
- the State Tax Service developed administrative acts on the approval of methodological documents within the framework of a pilot project on tax risk management.
As Ukrainian News Agency earlier reported, in early December, the media reported that Japan refused to participate in the plan proposed by the European Union to use frozen russian assets for the needs of Ukraine.
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