Minister of Finance of Ukraine Sergii Marchenko held a meeting with World Bank Vice President for Europe and Central Asia Antonella Bassani. Deputy Minister of Finance of Ukraine Olha Zykova also took part in the meeting.
The parties discussed the mobilization of financing for Ukraine through the end of 2026, further implementation of the PEACE in Ukraine project, attraction of financing under the SPUR 2.0 instrument, and the preparation of new joint projects.
In addition, Minister of Finance of Ukraine Sergii Marchenko and World Bank Regional Director for Eastern Europe Robert Saum signed a Loan Agreement under the Tenth Additional Financing for the “Public Expenditures for Administrative Capacity Endurance in Ukraine” (PEACE in Ukraine) Project.
Thus, in the near future, Ukraine will receive USD 841 million from the International Bank for Reconstruction and Development under the guarantee of the Government of Canada, which will be allocated for budget support as reimbursement of state budget expenditures for pension payments.
Following its signing, the total volume of the Project will reach USD 54.3 billion. PEACE in Ukraine is the largest investment project in the history of the World Bank.
During the meeting, the parties focused on the preparation of the 2026 Development Policy Operation (DPO) program. The Minister of Finance emphasized the importance of forming a realistic reform matrix that takes into account the timelines for adopting the necessary legislation. The conditions for receiving the financing already planned by the end of the year must be achievable and not create additional risks to the country’s financial stability.
Sergii Marchenko also welcomed the approval of the new SPUR 2.0 instrument and called on the World Bank to facilitate more active attraction of contributions from international partners. SPUR 2.0 (Special Program for Ukraine Recovery 2.0) is a large-scale financial initiative of the World Bank aimed at mobilizing resources for urgent recovery needs in Ukraine. The program operates on a multiplier principle — each USD 1 grant dollar attracted is converted into USD 3 in loans, which will allow accumulating up to USD 6 billion in financial support overall.
Ukraine has already appealed to 27 partner countries with a proposal to join SPUR 2.0. Four countries have already confirmed their readiness to make contributions.
Furthermore, Ukraine and the World Bank are preparing six new joint projects in energy efficiency, housing policy, waste management, agricultural sector support, statistics, and digitalization.
Sergii Marchenko expressed hope for the swift completion of preparatory procedures, which will allow the implementation of new projects to begin before the end of 2026.
The Minister of Finance thanked the World Bank and international partners for their systemic support of Ukraine and stressed the importance of continued joint work on resource mobilization to ensure public financial stability and finance key budget needs.
Source: https://www.kmu.gov.ua
