Ukraine and the World Bank discussed possibilities of attracting additional funds for reconstruction

The Ministry of Finance of Ukraine reported that on April 10, 2023, during a working visit to Washington, USA, Minister of Finance of Ukraine Serhiy Marchenko met with World Bank Vice President for Development Financing from the International Development Association (IDA) and the International Bank for the Reconstruction and Development (IBRD) Akihiko Nishio.

Source: The Ministry of Finance of Ukraine

Akihiko Nishio and Serhiy Marchenko discussed the possibilities of extended financing for the urgent restoration of infrastructure of Ukraine.

“The parties discussed the possibilities of extended financing for 2023 with the aim of attracting additional financial resources for the urgent restoration of critical, social and transport infrastructure, thanks to the introduction of the Special Program for Ukraine’s Recovery and Crisis Response (SPURR),” informed the Ministry of Finance of Ukraine.

This year, the cost of rapid recovery reaches 14.1 billion dollars, of which 3.3 billion dollars has already been mobilized from the state budget of Ukraine.

“We are now determined to work constructively with international partners to attract the remaining necessary funding, according to the five key priorities identified in the RDNA2 report, namely: rehabilitation of energy infrastructure, damaged and destroyed housing, humanitarian demining, rehabilitation of critical and social infrastructure, as well as support for small and medium-sized businesses in Ukraine,” noted the Minister of Finance of Ukraine.

See also: World Bank allocated an additional $2.5B to Ukraine

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