Sergii Marchenko: Ukrainian Government is actively facilitating the recovery process through reforms and innovative financing mechanisms

In Washington, D.C., USA, on the sidelines of the IMF and World Bank Spring Meetings, Ukraine’s Minister of Finance Sergii Marchenko participated in a panel discussion titled “Reconstructing Ukraine: The Plan Forward”, organized by the Council on Foreign Relations think tank.

The discussion also featured President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso, President of the European Investment Bank (EIB) Nadia Calviño, and Governor of the Council of Europe Development Bank (CEB) Carlo Monticelli.

Sergii Marchenko emphasized that while one of Ukraine’s key current challenges is maintaining economic stability, the Government is already making significant efforts to assess and launch early recovery efforts — especially in areas essential for the well-being of citizens.

According to the Fourth Ukraine Rapid Damage and Needs Assessment (RDNA4), as of the end of 2024, Ukraine’s recovery and reconstruction needs over the next 10 years amount to nearly USD 524 billion — 2.8 times the country’s nominal GDP for 2024.

In 2025 alone, priority recovery needs total USD 17.3 billion. Of that, only USD 7.4 billion is currently covered through the State Budget and donor support, leaving an additional funding gap of nearly USD 10 billion. Priority areas for rapid recovery funding in the coming year include housing, energy, social and critical infrastructure, transport, and social protection.

“To attract funding for priority recovery we need to adopt multiple strategies. First, Ukraine needs continued support from international partners and donors, including international reconstruction and development banks. Second, we must attract private sector investment. As all domestic state budget resources are directed toward defense, which remains an unwavering priority under martial law,” said the Minister of Finance.

The Government is actively working to enhance private sector participation in recovery through reforms and innovative financing mechanisms.

Starting in 2024, the Ministry of Finance has been implementing a new Public Investment Management (PIM) framework. This approach aims to systematize all projects related to recovery and development – particularly important given the limited resources. It also helps optimize donor coordination for reconstruction funding.

To support this, the Government is developing a comprehensive IT ecosystem that enables strategic, data-driven decision-making based on national priorities and needs. This tool also strengthens transparency in investment mobilization.

So far, 92 projects have been selected from the Project Pipeline for financing. These span healthcare, social protection, education, transport, energy, and more. Each project is evaluated based on its economic impact (e.g., contribution to GDP, population coverage, and implementation readiness).

The reform is being implemented in alignment with Ukraine’s urgent recovery and post-war reconstruction needs, incorporating recommendations from the World Bank, IMF, and best European practices.

EIB President Nadia Calviño praised the Ukrainian Government’s efforts in recovery and reconstruction and reaffirmed the Bank’s unwavering support. EBRD President Odile Renaud-Basso expressed readiness to increase investments in Ukraine.