The World Bank Group offers a range of trust funds, financial intermediaries, guarantees, co- and parallel financing, and other financial instruments to help the Government of Ukraine sustain essential public services, rebuild critical infrastructure, support the private sector, and more with needs identified in the Fifth Rapid Damage and Needs Assessment for Ukraine.
In 2022, the Bank Group established the Multi-Donor Resources for Institutions and Infrastructure (MRII) Facility to support Ukraine with a coordinated effort among the IBRD, IFC, and MIGA.
World Bank
Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF)
The 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 a robust reform agenda. The trust fund supports a range of initiatives, from projects that address immediate needs to the Programs-for-Results and technical assistance that advance reforms for recovery and reconstruction. By leveraging a combined approach of technical assistance, strategic partnerships, and financing, the URTF unlocks transformative results through early-stage interventions.
The URTF is central to advancing reforms critical for Ukraine’s EU accession. By focusing on areas such as governance, anti-corruption, procurement, public finance management, and sectoral alignment, the URTF’s efforts increase Ukraine’s institutional capacity and accelerate its path toward EU membership.
- As of March 2026, the URTF mobilized $2.8 billion in donor contributions, of which $2.6 billion are programmed in grants and $1.8 billion already disbursed.
- The trust fund helped unlock $7.3 billion in additional financing across relief, recovery, reconstruction, and reform efforts, including $3.2 billion in private sector capital.
- The URTF support had reached 20 million Ukrainians, of whom 10.2 million are women.
Learn about the impact that the URTF-supported operations in healthcare, agriculture, transport, housing, and education are already having on lives and livelihoods across Ukraine.
Public Expenditures for Administrative Capacity Endurance (PEACE)
The World Bank has been working with international partners – through grants and loans – to mobilize fast, targeted, and predictable financial support that helps the Government of Ukraine to sustain essential public services that reached more than 13 million Ukrainians by the end of 2024. The Public Expenditures for Administrative Capacity Endurance (PEACE) Project finances the salaries of civilian government employees, teachers, health and emergency response workers, and transfers to internally displaced persons, low-income households and disabled children. PEACE helps keep the government running, provides critical essential services, and helps vulnerable people who would otherwise fall into poverty.
Advancing Needed Credit Enhancement for Ukraine Trust Fund (ADVANCE Ukraine TF)
The ADVANCE Ukraine TF is aimed at providing IBRD lending credit enhancement for projects and operations in Ukraine. It follows the World Bank’s bilateral shareholder guarantee framework and is financed through the issuance and deposit of promissory notes. To date, the Government of Japan has contributed $12.5 billion in promissory notes, and $7.5 billion is already backed in signed loans and disbursed. World Bank loans backed by credit enhancement from the ADVANCE Ukraine TF were made to support projects in agriculture, social protection, sustaining critical government services, enhancing Ukraine’s macro-financial stability, developing public investment management system and fiscal governance, as well as in healthcare and transport sectors.
Financial Intermediary Fund (FIF) for Ukraine
The FIF for Ukraine provides a coordinated financing and support mechanism to assist Ukraine in sustaining its administrative and service delivery capacity, and in planning and implementing its recovery, reconstruction, and reform agenda. This fund allows streamlined access by Ukraine’s key implementing partners. On October 10, 2024, the World Bank’s Board approved the establishment of this FIF. The World Bank Group does not handle or deal in any way with immobilized Russian assets or any investment earnings on those assets.
IFC
Ukraine Economic Resilience Action (ERA) Program
IFC’s Ukraine Economic Resilience Action Program supports projects during Russia's invasion of Ukraine and initial stages of reconstruction. IFC’s strategy focuses on keeping businesses alive and ensuring that private capital supports Ukraine’s recovery. This includes supporting small and medium-sized enterprises (SMEs) through local banks via risk-sharing facilities and trade finance; directly investing in larger businesses—particularly in agribusiness—to safeguard jobs and food security; mobilizing private sector participation in infrastructure, including telecom and energy; and backing innovation and high-tech ventures through venture capital and private equity funds to retain talent and build future growth. Since the invasion, IFC has provided financing close to $3.1 billion, with $1.84 billion committed from its own account and $1.19 billion mobilized.
This progress has also been made possible thanks to blended finance contributions provided to IFC’s Ukraine program. As of April 2026, IFC has raised about $970 million from European Commission, France, UK FCDO, Italy, Netherlands, Norad, Belgium, Switzerland, and Japan. These blended finance contributions have been instrumental in enabling IFC to take on greater risk and mobilize additional private capital to unlock more in total investments.
MIGA
Support to Ukraine’s Reconstruction and Economy Trust Fund (SURE TF)
MIGA’s Ukraine response strategy has a two-phase approach. Phase I, implemented while the war is ongoing, focuses on providing guarantees to sustain trade in essential goods, maintain bank lending to firms, and support select real sector projects with demonstrated impact. Phase II, once the conflict stabilizes or ends—either fully or in parts of Ukraine—will also deliver political risk insurance (PRI) guarantees for real-sector investment projects at scale by leveraging increased availability of the reinsurance market.
To address the heightened risk environment, MIGA established the Support for Ukraine’s Reconstruction and Economy Trust Fund (SURE TF), which underpins the issuance of its guarantees. Complementing World Bank grants and loans to the Government of Ukraine, as well as IFC and partners’ investments in the private sector, MIGA’s PRI has helped businesses continue operating during the war and facilitate new investments.
The SURE TF’s risk capital instruments have enabled MIGA to crowd in both private and public reinsurance in a market where coverage is otherwise largely unavailable. As a result, MIGA has been able to reinsure up to 58 percent of its post-war guarantee issuances and support larger exposures. In addition, SURE TF allocations have improved the affordability of MIGA guarantees, particularly for smaller investors. The trust fund can de-risk up to 75 percent of guarantees issued to foreign investors, with MIGA retaining the residual risk or transferring a portion of it through other risk-mitigation mechanisms.
MIGA has issued $561 million in new guarantees (excluding guarantee tenor extensions without an increase in gross guarantee issuance) since the full-scale invasion in February 2022 to support critical investments, using approximately $104 million in donor funding—primarily from the SURE TF. This translates into $5.4 in guarantees for every $1 of donor capital utilized, delivering a 1:5.4 multiplier effect for donors. When all new business issuance since February 2022 is considered, including guarantee tenor extensions, MIGA’s total guarantee issuance exceeds $915 million.
MIGA’s guarantees have helped sustain liquidity in Ukraine’s financial markets and are expected to expand access to finance for nearly 35,000 firms as of June 30, 2025.
Last Updated: Apr 13, 2026