Sergii Marchenko discussed Ukraine’s financing needs, budget support, and private investment for recovery with the World Bank, CEB, IMF, and IFC on the sidelines of URC-2026

On the sidelines of the Ukraine Recovery Conference 2026, Minister of Finance of Ukraine Sergii Marchenko held a series of meetings with representatives of leading international financial institutions. The discussions focused on Ukraine’s financing needs, continued budget support, implementation of reforms, and attracting private investment for recovery.

In particular, the Minister of Finance met with President of the World Bank Group Ajay Banga; Managing Director of Operations at the World Bank Anna Bjerde; Vice President of the International Finance Corporation (IFC) for Europe, Latin America, and the Caribbean Alfonso Garcia Mora; Governor of the Council of Europe Development Bank (CEB) Carlo Monticelli; and First Deputy Managing Director of the International Monetary Fund (IMF) Dan Katz.

The meetings were also attended by Deputy Ministers of Finance of Ukraine Olga Zykova and Oleksandr Kava, Deputy Minister of Finance for European Integration Yuriy Draganchuk, Government Commissioner for Public Debt Management Yuriy Butsa, as well as representatives of international financial institutions.

URC-2026 once again served as a platform for coordinating decisions critical to Ukraine’s financial resilience amid the full-scale war. Key topics included financing the 2026 State Budget and medium-term fiscal needs, mobilizing international financing, continuing budget support programs, advancing structural reforms, and creating conditions for greater private sector participation in Ukraine’s recovery.

Sergii Marchenko thanked partners for their consistent support since the beginning of russia’s full-scale invasion and emphasized that international financial assistance remains critical for preserving Ukraine’s macro-financial stability.

“For Ukraine, partner support is not only a resource for covering budgetary needs. It is the foundation of the state’s resilience during wartime, enabling us to fulfill social obligations to citizens on time while continuing to advance recovery and reforms. We highly value the trust of international financial institutions and are working to ensure that every support instrument delivers maximum results for Ukraine,” said Sergii Marchenko.

World Bank: Budget resilience, new instruments, and support for people

During the meeting with  President of the World Bank Group Ajay Banga, the parties discussed further resource mobilization through World Bank mechanisms, including the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF), ADVANCE Ukraine, IDA SPUR 2.0, and F.O.R.T.I.S. Ukraine FIF.

Special attention was given to the PEACE in Ukraine project – the largest investment project in the history of the World Bank. Through this mechanism, Ukraine has already mobilized nearly USD 53.5 billion.

These instruments have enabled the Government of Ukraine to continue financing key social and humanitarian expenditures in a timely manner, including salaries for teachers, healthcare workers, civil servants, and emergency service personnel, as well as social support for millions of citizens.

The parties also discussed the new Development Policy Operation (DPO-1 2026), approved by the World Bank Board of Directors on June 22, 2026. Its implementation will provide USD 3.35 billion to Ukraine’s State Budget, including USD 1 billion in DPO financing and USD 2.35 billion in additional grant support.

During the meeting with Managing Director of Operations at the World Bank Anna Bjerde, discussions focused on practical implementation of joint projects, acceleration of ongoing programs, and preparation of new instruments to support budget resilience and Ukraine’s recovery, including IDA SPUR 2.0.

IFC: Private capital as part of recovery

A separate block of discussions focused on the role of the private sector in Ukraine’s reconstruction. During the meeting with Vice President of the IFC Alfonso Garcia Mora, the parties discussed mechanisms that could make investment in Ukraine more accessible and scalable even under wartime conditions.

Sergii Marchenko thanked IFC for its decision to mobilize USD 2.8 billion in support of Ukraine’s private sector. This package includes over USD 1.6 billion of IFC’s own financing and more than USD 1.19 billion mobilized from partners.

The parties discussed expanding the Risk Sharing Facility (RSF), which helps support small and medium-sized enterprises, as well as opportunities to finance energy projects, particularly in renewable energy, and the restoration of critical infrastructure.

CEB: New agreements to expand housing support

With the leadership of the Council of Europe Development Bank, the Minister of Finance discussed further expanding cooperation in providing housing for citizens affected by russia’s full-scale war against Ukraine, particularly veterans and Internally Displaced Persons, as well as support for small businesses.

The parties welcomed the signing of the second additional financing for the HOME project in the amount of EUR 100 million, as well as grant agreements totaling EUR 11.5 million aimed at technical assistance for the project.

The HOME project is designed to secure the right to housing for Ukrainian citizens whose homes were destroyed as a result of hostilities and terrorist acts caused by russia’s armed aggression against Ukraine. Assistance is provided through a housing certificate mechanism, enabling affected families to receive compensation for purchasing new housing.

The financing is implemented with the support of the Government of Italy, which provides EUR 50 million under the new financing package. With the additional loan, total CEB financing for the project will reach EUR 300 million.

Currently, the Bank’s portfolio in Ukraine includes four projects totaling EUR 550 million, of which around 90%, or nearly EUR 484 million, has already been disbursed, demonstrating the high effectiveness of cooperation.

The Minister also thanked the CEB Administrative Council for approving two new operations for Ukraine this month totaling EUR 140 million, aimed at providing housing for IDPs and war veterans.

Following the meeting, the parties reaffirmed their shared commitment to further expanding cooperation and supporting Ukraine’s recovery.

IMF: Macro-financial stability and continuation of the EFF program

During the meeting with the IMF’s First Deputy Managing Director Dan Katz, the parties discussed implementation of the new four-year Extended Fund Facility (EFF) program worth USD 8.1 billion.

Sergii Marchenko thanked the IMF for its leadership in supporting Ukraine. Since the start of the full-scale war, the Fund has provided Ukraine with approximately USD 14.9 billion in direct budget support.

The Minister noted the staff-level agreement on the first review of the EFF program. This confirms Ukraine’s commitment to fulfilling its obligations and paves the way for the next tranche under the program amounting to USD 690 million.

Special attention was also paid to implementation of the program’s structural benchmarks. Ukraine has already delivered on several key commitments, particularly in customs reform, corporate governance of state-owned banks, and tax policy changes.

Cooperation with the IMF remains a key anchor of Ukraine’s macro-financial stability. Program implementation is not only about financing – it is also about confidence in Ukraine’s economic policy, predictability of decision-making, and the state’s ability to implement reforms even during wartime.

Following the meetings, the parties confirmed their readiness to continue coordinating efforts to ensure Ukraine’s financial resilience, support the State Budget, advance reforms, and create conditions for recovery in which the private sector will play an increasingly important role.