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 first, second, third, and fourth Rapid Damage and Needs Assessments 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 September 2025, the URTF mobilized $2.4 billion in donor contributions, of which $2 billion are committed in grants and $1.4 billion already disbursed.
- The trust fund helped unlock $8 billion in additional financing across relief, recovery, reconstruction, and reform efforts, including $4.3 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 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 to mobilize fast, targeted, and predictable financial support that helps the Government of Ukraine to sustain essential public services that reach more than 13 million Ukrainians. 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 $8.5 billion in promissory notes. The first $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 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 of $2.7 billion, with nearly $1.7 billion committed from its own account and $1 billion mobilized.
This progress has also been made possible thanks to blended finance contributions provided to IFC’s Ukraine program. As of end September 2025, IFC has raised over $900 million from Belgium, the European Commission, France, Japan, Netherlands, Norway, Switzerland, and the United Kingdom. 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’s response strategy has a two-phase approach: (i) phase 1: while war is ongoing, MIGA has been providing guarantees to support trade in essential goods and continued bank lending to firms, as well as select real sector projects with proven effects; and (ii) phase 2: once the conflict stabilizes or ceases either completely or in parts of Ukraine, MIGA expects to use the reinsurance market to provide PRI guarantees for real sector projects.
To mitigate the high risks, MIGA established the Support for Ukraine’s Reconstruction and Economy Trust Fund (SURE TF), which it uses to issue guarantees. By being complementary to the grants and loans provided to Government of Ukraine by the World Bank, and investments and loans to the private sector from IFC and other partners, MIGA’s PRI has been helping the private sector operate during war and facilitating new investments.
The SURE TF’s risk capital solutions have allowed MIGA to crowd in private and public reinsurance in Ukraine where it is otherwise absent, allowing MIGA to insure larger exposures. SURE TF allocations have also made MIGA’s guarantees more affordable, particularly for smaller investors. The TF can de-risk up to 75% of guarantees issued to foreign investors, with MIGA assuming any remaining risk or using other risk transfer options.
Since the start of the invasion, MIGA had issued $454 million in eight new guarantees using $103 million in donor funds, which implies that $1 of donor funding has supported $4.4 in guarantees in Ukraine. These guarantees have mobilized over $324 million in private capital, increased expanded access to finance for nearly 35,000firms, and helped sustain liquidity in Ukraine’s market.
Last Updated: Oct 10, 2025