Ukrainian Finance Minister Serhiy Marchenko met with World Bank Group President Ajay Banga on the sidelines of the Annual Meetings of the International Monetary Fund and the World Bank in Washington, D.C., USA.
The Ministry of Finance team also held bilateral meetings with the World Bank Managing Director for Operations Anna Bierde, World Bank Vice President for Europe and Central Asia Antonella Bassani, and International Finance Corporation (IFC) Managing Director Makhtar Diop.
The discussions focused on the results of Ukraine’s cooperation with the Bank during nearly four years of full-scale war and plans for 2026.
Serhiy Marchenko thanked Ajay Banga for the consistent support of Ukraine’s economy since the beginning of Russia’s full-scale war. During this period, projects were launched to support agricultural producers and internally displaced persons, finance social expenditures, restore energy infrastructure, repair and reconstruct buildings damaged by Russian attacks, and more.
“Thanks to funds mobilized through various Bank mechanisms, we can maintain budget liquidity, implement institutional and structural reforms, and carry out investment projects aligned with strategic recovery priorities. Ukraine has already received over $55.8 billion in budget support from international partners through World Bank projects. These funds have been directed toward priority social expenditures and economic recovery,” the Finance Minister said.
Overall, the World Bank has mobilized more than $81.7 billion from donors and partners to support Ukraine.
Marchenko outlined challenges for the energy sector due to large-scale Russian attacks. Recent strikes on critical infrastructure have already caused over $2 billion in damages. The parties discussed potential areas of cooperation to strengthen Ukraine’s energy sector.
Currently, the World Bank is implementing 22 joint projects in Ukraine. Since the start of the full-scale war, the Bank has launched 13 projects for social support, restoration of energy, transport, and logistics infrastructure, damaged housing, healthcare and education reforms, agricultural and SME support, and tax and customs reforms (projects include PEACE, INSPIRE, REPOWER, RELINC, HOPE, HEAL, ARISE, RISE, THRIVE, LEARN, SURGE, DRIVE, PREPARE).
In 2025, under the active project portfolio, Ukraine received $7.9 billion from the World Bank, of which $7.2 billion was budget support.
Additionally, in 2025, nine agreements totaling nearly $970 million have been signed (including over $54 million in grants). Further grant financing of $182 million has been mobilized for three ongoing projects.
By the end of the year, the following project financing from the World Bank is expected: SURGE – $396 million, RISE – nearly $300 million, LEARN – nearly $105 million, THRIVE – $17.5 million, INSPIRE – over $1 million.
In the meeting with IFC Managing Director Makhtar Diop, the Finance Minister discussed expanding cooperation between Ukraine and IFC to attract investment for the country’s reconstruction, including public-private partnership projects and support for small and medium-sized enterprises.
Since February 2022, IFC has mobilized $2.6 billion (including $1.6 billion of its own funds) for investment projects in Ukrainian businesses and banks. Currently, IFC’s private sector investment portfolio in Ukraine includes 22 projects totaling approximately $900 million.
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