Olga Zykova discussed the implementation of priority projects for 2026 with the leadership of the Council of Europe Development Bank and the International Finance Corporation

Deputy Minister of Finance of Ukraine Olga Zykova met with a delegation of the Council of Europe Development Bank (CEB) led by Director of the Loan and Social Development Department Cristian Tabacaru, and with IFC Regional Director for Europe Ines Rocha.

On 25–26 March 2026, Olga Zykova held a series of meetings with international partners who arrived in Kyiv to participate in the Ukrainian Donors’ Platform.

The parties discussed the status and next steps for implementing joint projects, as well as cooperation priorities for 2026.

The meeting with the CEB focused on the practical implementation of programmes aimed at housing recovery, support for entrepreneurship, and the social sector amid the full-scale war. Olga Zykova thanked the Bank for its consistent support and emphasized the importance of launching new initiatives in a timely manner.

Since Ukraine joined the CEB in 2023, the Bank has approved more than EUR 670 million in financing. The current portfolio in Ukraine includes four projects worth EUR 550 million, with over 90% of the funds already disbursed (EUR 458 million). Recently, the Bank’s Board of Directors approved new operations for Ukraine, including additional financing of EUR 100 million for the HOME project (compensation for housing destroyed by russian aggression) and a EUR 20 million programme to support small and medium-sized enterprises. The relevant agreements are expected to be signed during the Ukraine Recovery Conference in Poland this summer.

The parties reviewed progress on key projects:

The HOME project  has fully mobilized EUR 200 million and financed more than 6,000 housing certificates for around 17,000 citizens. 

The support programme for internally displaced persons mobilized EUR 200 million and fully financed living assistance payments in 2025. 

The housing programme for IDPs has already financed more than 400 concessional mortgage loans for over 1,000 citizens. 

Under HEAL Ukraine, EUR 33.67 million out of EUR 100 million has been mobilized to restore medical infrastructure, including the reconstruction of six outpatient clinics and primary healthcare centres in Vinnytsia, Chernivtsi, Chernihiv, and Poltava regions.

The parties agreed to continue close coordination to ensure effective project implementation and further expand cooperation aimed at Ukraine’s recovery, economic support, and improving citizens’ well-being. They also explored new initiatives in housing access, microbusiness support, assistance for IDPs, veteran mortgage programmes, social rental housing, and modernization of higher education infrastructure.

During the meeting with IFC, the discussion focused on mobilizing private capital, developing public-private partnerships, launching a Viability Gap Funding mechanism of around EUR 500 million (to co-finance up to 50% of capital expenditures in priority infrastructure sectors), and the privatization of state assets. The parties agreed to continue coordination on new financing instruments and investment projects.

“Partnership with the International Finance Corporation is a key instrument for mobilizing private capital for reconstruction. IFC is our strategic ally in developing effective public-private partnerships,” Olga Zykova noted.

IFC has already mobilized USD 2.8 billion to support Ukrainian businesses, including more than USD 1.5 billion of IFC’s own financing and over USD 1 billion mobilized from partners. Since 2022, IFC’s investment portfolio in Ukraine has exceeded USD 1.8 billion, focusing on SMEs, agriculture, infrastructure, and energy, including renewable energy projects to ensure sustainable energy supply.