Sergii Marchenko and the World Bank team discussed attracting financing to meet Ukraine’s State Budget needs in 2026

Minister of Finance of Ukraine Sergii Marchenko met with the World Bank Vice President for Europe and Central Asia Antonella Bassani. The meeting took place in Kyiv as part of the Bank representative’s working visit to Ukraine.

The Deputy Minister of Finance Olga Zykova and the Deputy Minister for European Integration Yuriy Dragan­chuk also took part in the meeting.

The parties discussed the state of Ukraine’s financial system, the results of nearly four years of cooperation between Ukraine and the Bank during the full-scale war, and plans for 2026.

Sergii Marchenko emphasized the need for support to cover budget expenditures in the first quarter of 2026. They discussed possible ways to mobilize the necessary funds through the Bank’s mechanisms.

The total uncovered external financing need for 2026-2027 amounts to USD 60.8 billion.

The parties highlighted the staff-level agreement reached between Ukraine and the IMF on a new USD 8.1 billion Extended Fund Facility (EFF). The Government of Ukraine also expects a positive decision from the European Commission regarding access to the Reparations Loan starting in the second quarter of 2026.

“Thanks to the World Bank’s strategic and coordinating support, since 2022 Ukraine has already received about USD 61.4 billion in assistance from international partners through various Bank mechanisms, including more than USD 35 billion in grants. This financing has been directed toward priority expenditures for social support, restoring energy, transport, and logistics infrastructure, repairing damaged housing, supporting and reforming the healthcare system, and sustaining agriculture as well as small and medium-sized businesses,” Finance Minister noted.

At the same time, in close cooperation with the World Bank, Ukraine continues to focus substantial efforts on implementing key reforms. The World Bank’s Development Policy Operation (DPO) is a crucial instrument for advancing structural reforms and strengthening the country’s economic resilience. Through this program, Ukraine is able to meet core policy commitments, enhance public sector efficiency, and secure stable budget support during the challenging wartime period.

The World Bank currently implements 22 joint projects in Ukraine. Since the start of the full-scale invasion alone, the Bank has launched 13 development and recovery projects (including PEACE, INSPIRE, REPOWER, RELINC, HOPE, HEAL, ARISE, RISE, THRIVE, LEARN, SURGE, DRIVE, and PREPARE).

By the end of the year, Ukraine expects to receive additional financing under the existing project portfolio: nearly USD 250 million under SURGE, about USD 290 million under RISE, nearly USD 105 million under LEARN, USD 17.5 million under THRIVE, and over USD 1 million under INSPIRE.