MRII Initiatives
World Bank
Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF)
URTF is a coordinated financing and support mechanism to assist the Government of Ukraine in (i) sustaining its administrative and service delivery capacity and conducting relief efforts; and (ii) planning and implementing recovery, resilient reconstruction, and reform agenda. URTF is supporting Framework Projects – emergency operations that mobilize partner resources through an innovative and flexible design. They reflect Ukraine’s relief needs outlined in the RDNA and are designed to be adaptable to events on the ground, scalable to integrate additional financing, and rapidly make an impact.
Public Expenditures for Administrative Capacity Endurance (PEACE)
The PEACE in Ukraine project is contributing to sustaining the Government's administrative and service delivery capacity, as well as essential services and core government functions. It covers expenditures incurred for the government, education, and healthcare services; first responders' wages; pensions and social assistance payments – supported through grants from a dedicated MDTF, IBRD/IDA financing, and donor guarantees.
Advancing Needed Credit Enhancement for Ukraine Trust Fund (ADVANCE Ukraine)
The ADVANCE Ukraine TF is aimed at providing IBRD lending credit enhancement for projects and operations in Ukraine. It follows the Bank’s bilateral shareholder guarantee framework and is financed through the issuance and deposit of promissory notes. The Government of Japan contributed US$5 billion in promissory notes upon the trust fund’s establishment. The first US$1.5 billion Ukraine Relief and Recovery Development Policy Loan was approved by the World Bank’s Board of Executive Directors on June 29, 2023. Subsequent World Bank loans backed by credit enhancement from the ADVANCE Ukraine TF were made to support projects in housing, agriculture, social protection, and sustaining critical government services.
IFC
Ukraine Economic Resilience Action (ERA) Program
IFC’s Ukraine ERA Program will support projects during Russia's invasion of Ukraine and initial stages of reconstruction. The program will focus on the following strategic priorities: (1) sustaining economic activity and supplying essential goods; (2) supporting vital economic infrastructure; and (3) addressing the needs of displaced people and affected municipalities. IFC will deploy US$2 billion during the next two years, including US$1 billion of own capital and US$1 billion from donors to mitigate risks. IFC will further crowd in additional private financing for an expected leveraging of donor financing by 3-4x across the portfolio. As of February 2024, US$665 million has been committed of IFC own account, and US$417 million mobilized, with an increasing pipeline. This financing will support business resilience, particularly in key sectors such as agribusiness, by providing working capital, trade finance, and risk sharing facilities. IFC will also underpin early recovery through support to critical infrastructure for energy, transport, municipal services and housing. In parallel, for project development IFC will prepare leveraging backing from partners to maximize private capital mobilization for reconstruction.
MIGA
Support to Ukraine’s Reconstruction and Economy Trust Fund (SURE TF)
The SURE TF will enable MIGA’s guarantee issuance in Ukraine by leveraging up to US$300 million of donor funding. During the ongoing invasion, MIGA will issue Trade Finance guarantees for Ukraine to import vital goods and equipment for infrastructure repairs, agricultural production, health service delivery, and preparation for winter. It will also provide Political Risk Insurance for international banks to facilitate access to finance, as well as liquidity support to Ukrainian businesses. Real sector projects will be considered selectively during the ongoing active conflict. After its partial or full cessation, MIGA will continue to support Ukraine by catalyzing foreign direct investment in the country’s energy, infrastructure, manufacturing, agriculture, services, and finance sectors.
Last Updated: Mar 29, 2024
