Securing budget needs: Minister of Finance held meetings in the U.S. with the World Bank, IMF, and U.S. Treasury

On the sidelines of the IMF–World Bank Spring Meetings in Washington, the Ministry of Finance team led by Sergii Marchenko held a series of meetings with Ukraine’s partners. The discussions focused on mobilizing financial resources for 2026 and advancing structural reforms. Meetings were held with teams from the World Bank, the International Monetary Fund, and the U.S. Department of the Treasury.

- World Bank: cooperation results and priorities for 2026

During a meeting with World Bank Vice President for Europe and Central Asia Antonella Bassani, the Minister of Finance emphasized the Bank’s critical role as the main coordinator of international assistance to Ukraine. Since 2022, Ukraine has mobilized over USD 71 billion through World Bank mechanisms, more than USD 41 billion of which has been provided as grants, helping the government avoid excessive debt burdens while maintaining core state functions.

The parties reviewed the results of cooperation in 2025, which became one of the most productive years of partnership. Together with the Bank, 27 projects totaling USD 34.5 billion were implemented and 13 new agreements were signed. The new project portfolio exceeded USD 1.1 billion, supporting the restoration of roads and bridges and preparation of project documentation through the DRIVE and PREPARE initiatives.

For 2026, priority was given to further mobilizing resources to support budget resilience. Particular attention was paid to reforms under the Development Policy Operation (DPO), with the preparation of relevant legislation being a prerequisite for attracting the next tranches of financing in the second quarter. The funds will be directed toward priority social expenditures of the State Budget’s general fund.

- IMF: implementation of the Extended Fund Facility program

During a meeting with IMF European Department Director Alfred Kammer and IMF Mission Chief for Ukraine Gavin Gray, the Ministry of Finance leadership discussed progress in implementing the Extended Fund Facility (EFF). 

The EFF program for 2026-2029, totaling USD 8.1 billion, serves as a key anchor for strengthening fiscal institutions, the anti-corruption framework, and Ukraine’s integration into the EU economic space.

The first program review is scheduled for June 2026, and upon its successful completion Ukraine will receive the next tranche of USD 686 million (SDR 503 million). 

The Ukrainian side reaffirmed its strong commitment to implementing reforms within the IMF program to ensure macro-financial stability during wartime.

- Meeting with the U.S. Treasury: covering the 2026 budget deficit

During discussions with Under Secretary of the U.S. Treasury for International Affairs Francis Brooke, the key topic was securing Ukraine’s external financing needs. 

According to joint estimates by the Government and the IMF, the total financing gap for 2026-2029 amounts to about USD 136.5 billion. In 2026 alone, Ukraine requires around USD 52 billion in international assistance to maintain macroeconomic stability and restore critical infrastructure.

The Ukraine’s Finance Minister outlined the main sources to cover 2026 needs, including the ERA Loans mechanism, the EU’s Ukraine Facility, the IMF EFF program, and the expected EU Ukraine Support Loan.