Ukraine will receive $88 million in funding under the World Bank project “Resilient, Inclusive, and Environmentally Sustainable Entrepreneurship” (RISE), aimed at supporting the private sector. The funds are provided thanks to a guarantee from Japan through the International Bank for Reconstruction and Development.
This is reported by Business • Media
Funding Conditions and Allocation of Funds
As a result of signing the relevant agreement, $80 million is planned to be allocated to the general fund of the state budget of Ukraine. An additional $8 million will be directed towards capitalizing interest on the loan, from which a one-time fee and commitment fee will be paid.
“The RISE project aims to address critical issues that hinder the resilience, growth, and sustainable development of the private sector.”
Duration of Implementation and Total Amount of Assistance
The implementation of the project is scheduled for the period from 2024 to 2027. The total amount of funding for the entire period will exceed $1 billion, of which $593 million has already been allocated.
Since the beginning of the full-scale war in February 2022, Japan has provided Ukraine with budgetary assistance through World Bank mechanisms amounting to over $8.7 billion.