The World Bank Group’s support to Ukraine exemplifies the transformational impact that trust funds can have by channeling support from a range of actors in a crisis context. Since Russia’s invasion of Ukraine in February 2022, the World Bank Group has brought together nearly $43 billion for Ukraine from different sources, including about $25 billion disbursed through trust funds.
The Multi-Donor Resources for Institutions and Infrastructure (MRII) Facility coordinates IBRD, IDA, IFC, and MIGA support for Ukraine, including trust fund initiatives like the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF) and the Ukraine Economic Resilience Action Program (Ukraine ERA).
URTF was launched in December 2022 to enable quick mobilization of grant funding for Ukraine’s most urgent needs. As of June 2024, it has attracted $1.8 billion from 16 sovereign donors, $1.1 billion of which are already disbursed for emergency operations in health, housing, transport, and agriculture, as well as government capacity and service delivery. URTF has reached over 15 million beneficiaries (54% women) and enabled the Government of Ukraine to continue to exercise core functions and cond:uct relief efforts.
Likewise, IFC has raised $567 million from six sovereign donors and the European Union for Ukraine ERA. This program supports trade finance for essential imports and exports, agriculture, technology, the financial sector, and small and medium-sized enterprises, as well as critical infrastructure, like energy, transport, and telecommunications.
The activities in this story were implemented with the generous support of the following development partners:
Development partners of URTF:
Austria, Belgium, Canada, Iceland, Indonesia, Ireland, Japan, Latvia, Lithuania, the Netherlands, New Zealand, Norway, Republic of Korea, Sweden, Switzerland, United States.
Development partners of Ukraine ERA:
Austria, Belgium, European Commission/European Union, Japan, the Netherlands, Switzerland, United Kingdom.
For more information on how trust funds help coordinate, innovate and catalyze development action, please see the World Bank Group’s FY24 Trust Fund Annual Report.
