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Highlights from the EIB’s participation at the 2023 World Bank Group-IMF Spring Meetings.

The International Finance Corporation (IFC), part of the World Bank Group, has invested $208 million in Ukraine since the beginning of the full-scale Russian invasion, and in the next few months the amount of investments may increase to $500 million, said IFC Vice President for Europe, Latin America and the Caribbean Alfonso Garcia Mora.

At this year’s World Bank Group-IMF Spring Meetings, management and shareholders recommitted to the institution’s vision of a poverty-free world and pledged to explore new solutions to tackle an ever-present set of threats to development and the lives of the poor—from stress in the banking sector and persistent inflation to rising debt, Russia’s invasion of Ukraine, and the mounting dangers of climate change.

EIB President Werner Hoyer and EIB Vice-President Teresa Czerwińska, in charge of the bank's operations in Ukraine, outlined the new “EU for Ukraine Initiative” in Washington DC this week. Presenting the package at the Third Ministerial Roundtable Discussion for Support to Ukraine, President Hoyer said, “Ukraine’s survival does not depend only on ammunition and guns, but in keeping the economy going. This is our focus.”

Treasury Secretary Janet Yellen continued to hold her administration's stance of steadfast support for Ukraine, but the secretary indicated responsible stewardship of U.S. aid and enduring cooperation from western allies would be essential to continuing robust support.