Ministry of Finance of Ukraine

🇺🇦🇰🇷 Ukraine received the first budget support from the Government of the Republic of Korea in the amount of USD 100 million. The concessional funding will be used to support social services in Ukraine. “I am grateful to the Korean Government for strengthening cooperation in the financial sector, which allows us to mobilise resources to meet the urgent needs of the State Budget under martial law. Moreover, the joint initiatives developed will help to lay the foundation for further economic growth and recovery,” said Minister of Finance of Ukraine Sergii Marchenko. The loan is for a term of 20 years and bears an interest rate of 1.0% per annum. The grace period is 5 years from the date of signing the loan agreement. Details: https://lnkd.in/d4MPNgjq

🏦 More than €1.2 billion of investments have been attracted under EBRD projects in Ukraine in the public sector. This was discussed during a review of the EBRD's project portfolio in Ukraine. The meeting was held online and was co-chaired by Deputy Minister of Finance of Ukraine Olga Zykova and Deputy Head of the EBRD in Ukraine Mark Magaletsky. 📌 The key goal of the event was to identify the results achieved and priorities in the implementation of joint initiatives. “Amidst the unprecedented challenges caused by russia's full-scale invasion, the EBRD's assistance is essential to support the Government's efforts to maintain the stability of the Ukrainian economy. With financial resources channelled into critical sectors, including energy and transport infrastructure, Ukraine can effectively face the challenges while keeping key businesses running” Olga Zykova noted. The EBRD is one of the largest institutional investors in Ukraine. Since the beginning of the full-scale invasion, the total amount of funding channelled to Ukraine has amounted to about €5 billion. The main priorities in cooperation with the Bank are supporting existing and initiating new projects in the energy sector, as well as developing transport and logistics infrastructure. Details: https://lnkd.in/dtgwSYCW

🌐 The World Bank has approved USD 664 million for Ukraine under the #INSPIRE social sector project. The project aims to: ✅ ensuring social protection of low-income and vulnerable populations in Ukraine during and after the war, ✅ improving access to social services and assistance, ✅ strengthening the social support system to respond quickly to possible challenges. 💬 “Implementing socially important initiatives is one of the Government's priorities in overcoming the consequences of the war. The INSPIRE project strengthens the effectiveness of social protection programs for thousands of Ukrainians, in particular through subsidies for housing and communal services and assistance to IDPs,” said Minister of Finance of Ukraine Sergii Marchenko. A USD 662 million will come from the Advancing Needed Credit Enhancement for Ukraine Trust Fund (ADVANCE Ukraine), backed by Japan. A grant of USD 2 million will also be provided from the World Bank's Early Learning Partnership Trust Fund to support the expansion of the childcare program. Olga Zykova Details: https://lnkd.in/dgPNu3RZ

🇺🇦🇯🇵 The State Budget of Ukraine received $235 million in concessional financing from the Government of Japan under the World Bank's new systemic projects. 🔹 $130 million loan within the “Resilient, Inclusive and Sustainable Enterprise Program” (RISE). The project aims to address critical challenges that hinder the resilience, growth and sustainable development of the private sector. 🔹 $105 million received under the "Lifting Education Access and Resilience in Times of Need" (LEARN) project. The key goal of the programme is to improve the educational process in Ukraine under martial law by creating safe and comfortable conditions for teachers and students. 💬 “I am grateful to the Government of Japan and the World Bank team for their coordinated cooperation, which once again helps to mobilise the necessary funds to support key sectors of the economy. Since February 2022, budget support from Japan through the Bank's mechanisms has reached about USD 6 billion. Financing under LEARN and RISE will help create the right conditions for the educational process and make the business support mechanism more effective amid a full-scale war,” said Sergii Marchenko. Olga Zykova The World Bank Details: https://lnkd.in/dt99w2zD

⚡️ Ukraine received a USD 4.8 billion loan from the World Bank. This loan was made possible by a USD 1.6 billion grant from the United States and funds from other development partners. A USD 4.8 billion loan will be used to cover essential social and humanitarian expenditures, in particular, salaries for healthcare workers, education staff, first responders, and other providers of critical public services. 💬 "The United States is one of the largest donors of financial support to Ukraine. Nearly USD 30 billion in funding has been allocated to cover the priority expenditures of the State Budget since the beginning of the full-scale war. I am grateful to the US Government for this substantial assistance. I also extend my gratitude to the World Bank team, which continues to work closely with us to identify new mechanisms to support Ukraine and address urgent needs," stated Minister of Finance of Ukraine Sergii Marchenko. Olga Zykova Oksana Markarova Details: https://lnkd.in/g2gaNGP5

November 26, the Ministry of Finance sold domestic government bonds worth UAH 19,150 million. Details: https://lnkd.in/e6Ubz2h

📍 Ukraine's performance of the conditionalities set out in the Reforms Matrix will boost economic growth, increase the number of innovations and attract the private sector to Ukraine. This was stated during a meeting between Minister of Finance Sergii Marchenko and The World Bank Managing Director of Operations Anna Bjerde. The parties discussed the results of cooperation between Ukraine and the Bank for more than 1000 days of the full-scale war, plans for 2025, as well as the joint work of the Government of Ukraine and the WB within the framework of the Reforms Matrix. 🤝 Sergii Marchenko thanked Anne Bjerde for her personal contribution to supporting Ukraine and noted the Bank's key role in consolidating assistance from international partners. Since the beginning of the full-scale invasion, the WB has launched a number of programmes and instruments that have attracted more than USD 40 billion for Ukraine's needs. These funds helped to partially finance the social and humanitarian expenditures of the State Budget, as well as Ukraine's recovery. Olga Zykova Yuriy Butsa Roman Kachur Bob Saum Details: https://lnkd.in/dcsFVw66

Ukraine will receive $4.8 billion through The World Bank PEACE in Ukraine. ✍️ Minister of Finance of Ukraine Sergii Marchenko and World Bank Operations Manager for Eastern Europe Kevin Tomlinson, signed a loan agreement under the World Bank’s Public Expenditures for Administrative Capacity Endurance (PEACE in Ukraine) project. The agreement envisages a USD 4.8 billion loan financed by the United States and other development partners. Ukraine expects to receive funding in the near future. The funds will be allocated for priority social budget expenditures. Olga Zykova USAID Details: https://lnkd.in/dbnNyuNW

🤝 Today, the event Reforms Matrix: Strengthening the Foundations of Economic Growth for EU Accession with the participation of Minister of Finance of Ukraine Sergii Marchenko and First Deputy Minister of Finance Denys Uliutin took place in Kyiv. The event was aimed to bring together representatives from Government, international partners, experts, business leaders, and civil society organizations to discuss key issues related to Ukraine’s economic development strategy. The opening remarks were made by the Prime Minister of Ukraine Denys Shmyhal and The World Bank Managing Director of Operations Anna Bjerde. 📲 The participants of the event noted the #ReformsMatrix as an effective tool that ensures transparency and optimization of work on the terms of cooperation with international partners. 💬 “The Reforms Matrix solves three key tasks: it allows us to clearly define those responsible, deadlines, and stages of implementation of measures; supports consistent and systematic work on reforms; and assesses the impact of policies on the Ukrainian economy. This all contributes to the effective work on the terms of cooperation programs with partners, demonstrating the transparency of the Government of Ukraine on this path,” said Sergii Marchenko. Also during the panel discussions, Sergii Marchenko and Denys Uliutin spoke about the policies implemented to support macrofinancial stability and the necessary steps for further economic growth. 🔗 Details at the link: https://lnkd.in/d3JRxC5z

🇺🇦🇩🇪 Strengthening cooperation between Ukraine and Germany in the financial, economic and a range of other areas is a strategic concern for both countries. This was discussed during an online meeting between Minister of Finance of Ukraine Sergii Marchenko and the newly appointed German Finance Minister Jörg Kukies. The parties discussed the key indicators of the State Budget of Ukraine for 2025, the conditions for attracting the German private sector to the reconstruction and the importance of further cooperation on Ukraine's European integration. Sergii Marchenko congratulated Jörg Kukies on his new appointment as Minister of Finance and emphasized the importance of enhancing cooperation between the two countries: 💬 "I am grateful to Germany for its proactive position in assisting Ukraine, primarily within the framework of EU and G7 initiatives. The partnership between our countries is aimed at ensuring the priority areas identified by the Government in the context of a full-scale war. In particular, it involves mobilizing necessary resources for the recovery process - support for the energy sector, financing for small and medium-sized enterprises, aid to internally displaced persons and other social projects." Germany is the largest donor of budget support to Ukraine among the EU countries and the second largest country in the world in terms of total comprehensive assistance since February 2022. Direct budget support provided by the German government amounted to EUR 1.6 billion, of which EUR 1.3 billion was allocated in the form of grants. Jörg Kukies assured that Germany remains committed to comprehensive support for Ukraine and its citizens. Bundesministerium der Finanzen