Ukraine will receive $88 million in funding under the World Bank’s RISE project (Resilient, Inclusive, and Environmentally Sustainable Entrepreneurship) to support the private sector. This funding is guaranteed by Japan through the International Bank for Reconstruction and Development.
This is reported by Finway
Financial Terms and Project Goals
As a result of signing the relevant agreement, it is planned to attract $80 million to Ukraine’s state budget, while an additional $8 million will be allocated for capitalizing interest on the loan. These funds will cover the one-time fee and the commitment fee.
The RISE project aims to address key issues that hinder sustainable development, growth, and resilience in Ukraine’s private sector. The implementation of this initiative is scheduled for the period from 2024 to 2027. The total funding for the entire duration of the project will exceed $1 billion, of which $593 million has already been approved to date.
Japanese Support Through the World Bank
Since February 2022, the amount of budgetary assistance attracted by Ukraine through the World Bank mechanisms from Japan has already exceeded $8.7 billion.
Ukraine will receive $88 million in funding under the World Bank project “Resilient, Inclusive, and Environmentally Sustainable Entrepreneurship” (RISE) to support the private sector. The funds are provided thanks to Japan’s guarantee from the International Bank for Reconstruction and Development.