Ministry of Finance: World Bank commits to continued support and expansion of assistance mechanisms for Ukraine

During a working visit to Washington, D.C., USA, for the Spring Meetings of the IMF and World Bank, the Minister of Finance of Ukraine Sergii Marchenko held a series of meetings with the leadership of the World Bank Group.

The discussions included Deputy Ministers of Finance Yuriy Draganchuk, Olga Zykova, Svitlana Vorobei, and Government Commissioner for Public Debt Management Yuriy Butsa.

From the World Bank, participants included Managing Director of Operations Anna Bjerde, Vice President for the Europe and Central Asia Region Antonella Bassani, Managing Director of the International Finance Corporation (IFC) Makhtar Diop, and Executive Vice President at the Multilateral Investment Guarantee Agency (MIGA) Hiroshi Matano.

The parties discussed the implementation of current joint projects, as well as plans for 2025 and future periods regarding the mobilization of budgetary support, the creation of conditions for attracting private investment, and reforms within the framework of cooperation with the World Bank. Sergii Marchenko emphasized that continued cooperation with the Bank plays a critical role in both maintaining financial stability and supporting Ukraine’s recovery.

The Minister thanked Anna Bjerde for her personal contribution to supporting Ukraine and highlighted the Bank’s key role in consolidating assistance from international partners.

Between 2022 and 2025, the World Bank’s active project portfolio in Ukraine has reached its largest volume in the history of bilateral cooperation. Since February 2022, Ukraine has received over USD 51 billion in financial assistance mobilized by the World Bank (USD 30.7 billion of this amount is in the form of grants).

The parties also discussed the continuation of reform implementation by the Ukrainian Government on the path toward EU accession.

“Despite the ongoing challenges caused by the war, the Ukrainian Government remains committed to its reform agenda – one that not only brings Ukraine closer to the EU but also contributes to economic development and national recovery. The Reforms Matrix – an analytical tool jointly developed with the Bank in February of last year – serves as a roadmap and transformation plan for Ukraine, outlining over 300 reforms with measurable indicators,” noted the Minister.

During a meeting with World Bank Vice President for Europe and Central Asia Region Antonella Bassani, the parties discussed the significant role of the financial instrument Program-for-Results (PforR), which links disbursements to the achievement of specific reform measures.

In 2024, implementation began on four PforR projects: “Lifting Education Access and Resilience in Times of Need” (LEARN), “Resilient, Inclusive, and Sustainable Enterprise” (RISE), “Supporting Reconstruction through Smart Fiscal Governance” (SURGE), “Transforming Healthcare through Reform and Investments in Efficiency” (THRIVE) with a total value of USD 2.1 billion. Of this, about USD 1 billion has already been disbursed to the State Budget’s general fund in 2024. These projects support reforms in finance, education, healthcare, and the development of small and medium-sized enterprises.

In April 2025, Ukraine received USD 50 million under the THRIVE project, with another USD 746 million expected by the end of the year under these four projects.

Ukraine and the World Bank also discussed the details of a new Development Policy Loan (DPL) program for the current year. The purpose of the DPL is to support the implementation of key reforms in Ukraine. Ukraine will receive a disbursement based on the fulfillment of the Program’s reform criteria.

In meetings with IFC Managing Director Makhtar Diop and MIGA Executive Vice President Hiroshi Matano, Minister Sergii Marchenko expressed gratitude for the support provided, including contributions to maintaining the institutional capacity of Ukraine’s economy, support for small and medium-sized businesses – including the IT sector – and development of a mechanism for war risk insurance.

The parties agreed to further deepen cooperation in the above-mentioned areas as well as explore new joint initiatives.