Budget support, additional recovery and energy resilience assistance. Outcomes of the working visit to the IMF and World Bank Spring Meetings

From April 21 to 26, a delegation from Ukraine’s Ministry of Finance, led by Minister of Finance Sergii Marchenko, participated in the IMF and World Bank Spring Meetings.

During the six-day working visit, the Ministry of Finance delegation held over 60 meetings with international financial leaders, including finance ministers from G7 and EU countries, as well as senior management from the International Monetary Fund, World Bank, European Investment Bank (EIB), and European Bank for Reconstruction and Development (EBRD).

The Minister of Finance also delivered a speech at the G7 Finance Track meeting and participated in the Ministerial Roundtable Discussion for Support to Ukraine.

Key topics of discussion included:

• Budget support for Ukraine in 2025–2026;
• Implementation of existing and launch of new projects to support Ukraine in cooperation with international financial institutions.

In 2025, Ukraine’s external financing needs amount to USD 39.3 billion. Partners confirmed their commitment to fully cover this requirement.

During discussions with EU finance ministers, Ukraine’s effective implementation under the Ukraine Plan for the Ukraine Facility was recognized. By the end of 2025, Ukraine is expected to receive EUR 22.1 billion in budget support from the EU (in addition to the EUR 8.5 billion already disbursed).

G7 countries demonstrated unity regarding the use of revenues from frozen russian assets for the benefit of Ukraine. Out of the USD 50 billion envisaged under the ERA mechanism, USD 13.6 billion has already been directed to Ukraine’s State Budget.

The implementation of joint projects and the development of new initiatives were discussed with leaders of the World Bank, EBRD, and EIB. The volume of joint project portfolios with these institutions is the largest in the history of cooperation. Support for key sectors of Ukraine’s economy will continue to expand.

Prime Minister of Ukraine Denys Shmyhal and World Bank Managing Director of Operations Anna Bjerde signed a Guarantee Agreement. The agreement provides for an additional USD 70 million in funding through the Climate Investment Funds (CIF) for the project "Ukraine – Energy System Resilience for European Power Grid Integration."

Additionally, Denys Shmyhal and EBRD President Odile Renaud-Basso signed a Guarantee Agreement for the Emergency Gas Procurement Financing Project for Naftogaz of Ukraine (III). Under this agreement, EUR 270 million will be provided to support the resilience and liquidity of the gas supply company.

Partners continue to scale up their contributions to projects supporting Ukraine. On the sidelines of the Spring Meetings, Norway announced a USD 230 million grant to the World Bank’s Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF). Through this, the Norwegian Agency for Development Cooperation (NORAD) will boost funding for recovery projects in the energy, transport, healthcare, education, agriculture, and housing sectors, as well as reform implementation projects.

Ireland contributed EUR 7 million to the EIB’s EU for Ukraine Fund, increasing the total fund size to over EUR 410 million. This will enable further support for Ukraine’s recovery and reconstruction projects.