Since the Russian invasion in February 2022, the World Bank Group has been instrumental in providing essential financing to support Ukraine. This assistance comes through various mechanisms such as trust funds, financial intermediaries, guarantees, and co-financing aimed at sustaining public services, rebuilding infrastructure, and supporting private sector initiatives.
The Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF) is a significant initiative by the World Bank. It aims to assist Ukraine's government in maintaining administrative capacity and planning recovery efforts. URTF supports several projects including Agriculture Recovery Inclusive Support Emergency (ARISE), Health Enhancement and Lifesaving (HEAL), Housing Repair for People's Empowerment (HOPE), Lifting Education Access and Resilience in Times of Need (LEARN), Repairing Essential Logistics Infrastructure and Network Connectivity (RELINC), and Restoration Project of Winterization and Energy Resources Ukraine (REPOWER).
Another key project is Public Expenditures for Administrative Capacity Endurance (PEACE). This initiative helps sustain essential government functions by covering expenditures related to education, healthcare services, first responders' wages, and social assistance payments.
The Advancing Needed Credit Enhancement for Ukraine Trust Fund (ADVANCE Ukraine TF) provides credit enhancement for IBRD lending projects in Ukraine. The Government of Japan has contributed $7 billion in promissory notes towards this effort.
The International Finance Corporation’s (IFC) Ukraine Economic Resilience Action Program focuses on sustaining economic activity during the invasion while preparing for reconstruction. IFC plans to deploy $2 billion over two years with contributions from donors expected to leverage additional private financing.
MIGA’s Support to Ukraine’s Reconstruction and Economy Trust Fund (SURE TF) enables guarantee issuance by leveraging donor funding up to $300 million. This includes trade finance guarantees for vital imports needed during ongoing conflict conditions.
MIGA also collaborates with the European Bank for Reconstruction and Development (EBRD) on short-term trade finance guarantees aimed at meeting humanitarian needs while supporting industries like agriculture.