World Bank Portfolio
No. of projects: 8 IBRD investment operations, plus one guarantee
Total lending: US$2.5 billion, including US$148 million from the Clean Technology Fund (CTF)
Ukraine joined the World Bank in 1992. Over the 26 years of cooperation, the Bank’s commitments to the country have totaled close to US$12 billion in about 70 projects and programs.
In March 2014, after receiving a request from the-then Ukrainian Government, the World Bank Group (WBG) immediately announced its support for a reform agenda aiming to put the Ukrainian economy on a path to sustainability. The current International Bank for Reconstruction and Development (IBRD) portfolio consists of eight investment operations of roughly US$2.5 billion and one guarantee of US$500 million.
The World Bank and the authorities are implementing a Country Partnership Framework (CPF) for Ukraine for FY17–21 that supports the country’s efforts to achieve a lasting economic recovery benefiting the entire population. The new CPF focuses on ensuring that markets work more effectively, establishing the necessary conditions for fiscal and financial stability, and improving service delivery for all Ukrainians.
Responding to the crisis in Ukraine, in March 2014, the WBG announced that it would provide additional financial and technical support to the country. Since 2014, the Bank has supported the people of Ukraine through two series of Development Policy Loans (DPLs), seven new investment operations, and a guarantee amounting to approximately US$5.5 billion aimed at improving critical public services, supporting reforms, and bolstering the private sector.
The World Bank has supported high-priority reform measures to address the key structural roots of the current economic crisis in Ukraine and to lay the foundation for inclusive and sustainable growth through two series of budget support operations: the multi-sector DPL series (MSDPL-1, US$750 million, approved in 2014, and MSDPL-2, US$500 million, approved in 2015) and the Financial Sector (FS) DPL series (FSDP -1, US$500 million, approved in 2014, and FSDPL-2, US$500 million, approved in 2015).
Reform measures aided by these four budget support operations promote good governance, transparency, and accountability in the public sector, as well as stability in the banking sector; a reduction in the cost of doing business; and the effective use of scarce public resources to provide quality public services at a crucial time. These operations also support the authorities in continuing to reform an inefficient and inequitable housing subsidy system while protecting the poor from tariff increases by strengthening social assistance.
World Bank investment projects have focused and will continue to focus on improving basic public services, such as district heating, water and sanitation, health, and social protection, as well as public infrastructure, such as the power transmission networks and roads. The Bank is also supporting Ukraine through policy advice and technical assistance on formulating and implementing comprehensive structural reforms.
In addition to financing several ongoing private sector projects, the International Finance Corporation (IFC) is implementing a large advisory program in the country, working to simplify regulations, improve the investment climate and energy efficiency, boost the completeness of local food producers, help open new markets, and increase access to finance.