On December 16, The World Bank announced the creation of the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund, which is the basis for the introduction of an investment mechanism and donor assistance. URTF will help Ukraine maintain its administrative and service capacity and develop and implement reconstruction and reform programs.
The founder of the fund is Switzerland, the URTF members are Austria, Iceland, Lithuania, the Netherlands, Norway and Sweden, which have already contributed $250 million to the fund. Canada and Japan are also planning to join.
"Efficient and coordinated donor support for the Government and the people of Ukraine are critical for Ukraine's recovery, reconstruction, and reform efforts. The URTF will bring together development partner financing, World Bank expertise, and other key support to meet the massive needs ahead while also leveraging the Bank's value add and broad range of financing instruments," Anna Bjerde, World Bank VP for Europe and Central Asia.
As of December 16, 2022, WB has mobilized $18 billion in emergency assistance for Ukraine, $13 billion of which are from donors.
