Olga Zykova: Since 2022, through the World Bank’s URTF, Ukraine has received $1.8 billion in grant support

On April 15, on the sidelines of the IMF–World Bank Spring Meetings in Washington, a meeting of the Partnership Council of the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF) took place, organized by Ukraine and the World Bank.

The meeting was opened by the World Bank Vice President for Europe and Central Asia Antonella Bassani. It was co-chaired by Deputy Minister of Finance of Ukraine Olga Zykova and World Bank Regional Country Director for Eastern Europe Bob Saum.

URTF donors participating in the meeting included representatives of Austria, Belgium, Canada, France, Germany, Iceland, Indonesia, Ireland, Japan, the Republic of Korea, Latvia, Lithuania, the Netherlands, New Zealand, Norway, Sweden, Switzerland, the United Kingdom, and the United States, as well as observers from Estonia, Finland, Poland, Spain, and Saudi Arabia.

Key topics of the URTF Partnership Council meeting were preparations for the upcoming heating season, given russia’s continued attacks on energy infrastructure, and the need to continue reforms in priority sectors of the economy, particularly those advancing Ukraine’s EU accession.

Other priority areas for the use of the Trust Fund’s resources include support for macro-financial stability, restoration of transport and housing infrastructure, development of the agricultural sector and entrepreneurship, and strengthening the public investment management system.

Thanks to donor support, URTF projects have already delivered more than 48 million services to Ukrainians in healthcare, education, housing, and public services. In particular, electricity supply has been restored for 3.5 million consumers, nearly 139,000 households have received compensation for repairing damaged housing, 7.3 million vaccine doses for children’s immunization have been delivered, and more than 87,000 agricultural producers have received financial support.

Overall, URTF has mobilized more than USD 2.8 billion in donor contributions, of which USD 1.8 billion has already been directed to the State Budget. At the same time, the Trust Fund’s grant resources have helped attract about USD 7.3 billion in additional financing from international financial institutions and the private sector.

“The URTF remains a critically important instrument that enables the rapid mobilization of donor resources to address the consequences of the war, ensure the provision of essential services, support communities, and restore infrastructure. We are grateful to the Trust Fund for its support and flexibility in directing resources in line with national priorities, particularly to prepare the energy sector for winter. The Government of Ukraine remains committed to continuing the implementation of key reforms. Together, we are laying the foundation for a resilient and modern European state,” emphasized Olga Zykova.

The Deputy Minister noted that URTF support facilitates the implementation of essential reforms. In particular, thanks to the financing attracted, the Government of Ukraine is implementing public investment management reform and changes in the healthcare and education sectors that bring Ukraine closer to EU standards.

In 2026, Ukraine together with the World Bank plans to launch new initiatives funded by URTF grant resources, particularly to support the energy and housing sectors, as well as environmental projects:

• RAMP-UP – accelerating renewable energy development and market growth in Ukraine. The first available URTF grant: USD 70 million; total financing: about USD 300 million.

• HOME-UA – expanding housing opportunities and mortgage lending. Expected to provide about 36,000 mortgage loans and mobilize up to USD 1.5 billion in private investment. The first available URTF grant: USD 70 million; total financing: USD 500 million.

• Ukraine Statistical System Development Project – supporting the continuity of statistical research and data collection infrastructure. URTF grant: USD 5 million; total financing: USD 5 million.

• Hazardous Waste Management Project – strengthening the state’s capacity in waste management. URTF grant: USD 1.7 million; total financing: USD 13.5 million.

Participants confirmed their readiness to continue coordinating efforts to support Ukraine, restore critical infrastructure, implement reforms, and prepare investment projects that will contribute to Ukraine’s long-term development and integration into the European Union.