Ukraine is preparing to receive an additional 300 million dollars in funding from the World Bank under the “Resilient, Inclusive, and Environmentally Sustainable Entrepreneurship” (RISE) program in 2025. These funds are to be disbursed upon meeting specified key performance indicators of the program, which aims to support business development and the economic recovery of the country.
This is reported by Business • Media
Grant Support and Small Business Development
As part of the RISE program, agreements totaling 593 million dollars have already been signed between Ukraine and the World Bank last year, of which Ukraine has already received 236 million. Currently, preparations are underway to launch a separate grant component worth 10 million dollars, which will be allocated from the World Bank’s Ukraine Recovery, Reconstruction, and Reform Support Fund (URTF).
“We are close to launching the grant component of the RISE program – $10 million from the Ukraine Recovery, Reconstruction, and Reform Support Fund (URTF). This will allow us to direct more resources towards the development of small and medium-sized enterprises, support for the green transition, improvement of the business climate, digital transformation, and expanding access for Ukrainian businesses to external markets,” said Deputy Minister of Economy Oleksiy Sobolev.
Support for Reforms and Industrial Development
The RISE program is designed until 2027, and its implementation covers a wide range of areas: from supporting the development strategy for small and medium-sized enterprises to promoting environmental changes and digitalization. Additionally, during recent negotiations between the Ministry of Economy of Ukraine and the World Bank mission, the preparation of a new industrial strategy for the country was discussed. Special attention is being paid to its synchronization with export and investment strategies, which is expected to contribute to the growth of Ukrainian businesses and expand their presence in global markets.