Ukraine’s Minister of Finance Sergii Marchenko met with the leadership of the World Bank, including Managing Director of Operations Anna Bjerde and Vice President for Europe and Central Asia Antonella Bassani.
The meeting was also attended by Regional Vice President of the International Finance Corporation for Europe, Latin America and the Caribbean Alfonso Garcia Mora.
From the Ministry of Finance, Deputy Ministers Olga Zykova and Oleksandr Kava, Deputy Minister for European Integration Yuriy Draganchuk, and Government Commissioner for Public Debt Management Yuriy Butsa were present.
The meeting took place during the World Bank leadership’s visit to Kyiv for the presentation of the Fifth Rapid Damage and Needs Assessment (RDNA5), covering the period from February 24, 2022 to December 31, 2025.
The minister thanked the World Bank and partners for contributing to RDNA5, which provided an internationally recognized vision of the scale of destruction and recovery priorities for the next decade.
The parties discussed mobilizing financial resources to support budget stability and recovery, implementing reforms under the Development Policy Operation (DPO), cooperation in the energy sector, and the outcomes of collaboration with IFC.
“Your visit to Kyiv on the fourth anniversary of the start of the full-scale russian invasion is an important sign of support for Ukraine. We are grateful to the World Bank’s team for flexibility, speed in decision-making, and constant readiness to support Ukraine,” Sergii Marchenko noted.
Since February 2022, Ukraine has received more than $66 billion through World Bank mechanisms, nearly $40 billion of which came as grants – critically important for ensuring the country’s financial and debt sustainability.
The minister emphasized that one of the key support instruments remained the PEACE in Ukraine project – the largest investment project in the bank’s history – aimed at ensuring continuous financing of critical budget expenditures. Its total financing amounts to $51.7 billion. To date, $49.5 billion has been disbursed directly to Ukraine’s state budget under the project. Additional financing is expected soon, including a $200-million grant contribution from Norway.
The parties also reviewed progress on reforms under the Development Policy Operation – a reform package that unlocked access to budget support. Ukraine has already fulfilled most of the required prior actions and is working on adopting key legislative changes that are critical to securing financing in 2026.
Energy sector support was also discussed, where the World Bank combines infrastructure financing with reforms. In particular, an additional $40-million grant is planned under the Re-PoWER project to strengthen Ukraine’s energy resilience.
A separate block of discussions focused on IFC’s role in supporting small and medium-sized businesses, deploying investment instruments for infrastructure recovery, and developing public-private partnerships.
The minister underlined that cooperation with the World Bank remained a key element of Ukraine’s financial stability, reform implementation, and systemic economic recovery. (Finance Ministry)