Minister of Finance of Ukraine Sergii Marchenko met with World Bank Vice President for Europe and Central Asia Antonella Bassani, during the IMF and the World Bank Spring Meetings in Washington, USA.

Deputy Minister of Finance Olga Zykova, Deputy Minister of Finance for European Integration Yuriy Draganchuk and Government Commissioner for Public Debt Management Yuriy Butsa also took part in the meeting.

The Ukrainian side congratulated Antonella Bassani on her appointment as Vice President of the World Bank for Europe and Central Asia, and also thanked the Bank’s representatives for the long-term and fruitful cooperation that has lasted for more than 30 years.

“I am grateful to the World Bank team for their considerable support during the full-scale war. In 2022, the Bank created the Trust Fund of many donors to mobilize the necessary financial resources for Ukraine. Thanks to this instrument, we managed to attract USD 14 billion and EUR 1.2 billion to the state budget,” said Sergii Marchenko.

The Minister of Finance of Ukraine also noted that thanks to the World Bank PEACE project in Ukraine, the Government of Ukraine was able to provide social and humanitarian expenditures in a timely manner and in full.

The parties discussed the preparation of new joint system projects that would be implemented in the process of Ukraine’s recovery and would be aimed at the reconstruction of the transport infrastructure (RELINK), the electric power sector (Re-Power), as well as the support of the health care system (Heal Ukraine). The Minister of Finance of Ukraine noted that the World Bank was a strategically important partner of Ukraine during the reconstruction and recovery process.

Also, the parties are currently discussing new projects to support agriculture and producers of agricultural products in Ukraine, and a project to restore housing damaged or destroyed as a result of the war.

At the same time, Sergii Marchenko thanked his colleagues for the joint work on the Second Ukraine Rapid Damage and Needs Assessment (RDNA2) report, which was prepared by the Government of Ukraine, the World Bank, the European Commission and the United Nations. He also noted that the report was the basis for the further implementation of the recovery plan: “The report’s estimates, verified and agreed by partners, will help consolidate additional funds for reconstruction, as they give international donors a clear understanding of the country’s needs.”

Additional information

Ukraine is implementing a joint project with the International Bank for Reconstruction and Development (IBRD) and the International Development Association (IDA) Public Expenditures for Administrative Capacity Endurance (PEACE) in Ukraine.

Since the beginning of the Project, Ukraine has received grants and loans totaling USD 14 billion and EUR 1.2 billion.