Ukraine and the World Bank will deepen cooperation in the implementation of projects for transformation of the Ukrainian economy, facilitating the return of citizens, and attracting foreign investment to rebuild the country after the war.
This was discussed during the meeting between Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine – Minister of Economy of Ukraine, and Bob Sohm, Regional Director for Eastern Europe at the World Bank. The meeting was also attended by First Deputy Minister of Economy Oleksii Sobolev, Deputy Minister of Economy Andrii Teliupa and Deputy Chairman of the Board of Ukrfinzhytlo PrJSC Oleh Zhuravliov.
“We are interested in deepening our cooperation with the World Bank experts, particularly in the issues of supporting key reforms and strategic projects. Together, we must create conditions for innovative development of Ukraine’s economy, which will ensure the return of Ukrainians who were forced to leave the country because of the war. The World Bank’s experience and expert support are extremely valuable in this process,” emphasized Yuliia Svyrydenko.
The parties discussed a number of priority projects, including RISE Project (Resilient, Inclusive, and Sustainable Entrepreneurship). The World Bank expects to provide Ukraine with a $1 bln loan (PforR) and a $30 mln grant (IPF) to support government reforms in the private sector. The financing will be used to refinance the state business support programmes, including such initiatives as Affordable Loans 5-7-9% and eRobota.
Another topic for discussion was preparations for the Ukraine Recovery Conference (URC-2025) to be held next year in Rome. The World Bank will work out what results can be presented at the URC-2025.
The parties agreed that the World Bank would take an active part in the studies on development of the Ukrainian economy in a post-war period.
Particular attention was paid to the issue of public investment management (PIM). The World Bank expects to launch the Ukraine Project Preparation Framework (PPF) in February 2025, a programme to develop economically sound investment projects that meet the country’s strategic goals.
The World Bank will contribute to development of the state housing strategy, which will focus in particular on supporting vulnerable groups. The parties discussed measures to stimulate the construction and reconstruction of housing stock, as well as to improve the financing systems for housing and communal infrastructure.
The parties also discussed the creation of intergovernmental working group for development and restoration of the housing stock, which will include the World Bank experts.
“We are interested in expanding further cooperation between the bank and the Ukrainian Financial and Housing Company. We ask for assistance in further development of the optimal financial and mortgage model with a focus on citizens who need housing the most,” said Yuliia Svyrydenko.
The parties also discussed the World Bank’s involvement in development of the capacity of local authorities to prepare projects in the regions, including those near the front line, where economic activity needs to be supported.
Particular attention was paid to human capital development, including retraining programmes, in particular for women, and updating the Labour Code. The World Bank will assist in developing reforms aimed at creating a dynamic labour market in Ukraine.