Representatives of the Ministry of Economy of Ukraine, along with a World Bank mission, held discussions on the implementation of the program “Sustainable, Inclusive, and Environmentally Balanced Entrepreneurship” (RISE). It was noted that in 2022, Ukraine signed agreements with the World Bank totaling $593 million, of which $236 million has already been received. With the successful achievement of key program indicators, the country plans to receive an additional $300 million this year.
This is reported by Finway
Grant Component of the RISE Program
“We are close to launching the grant component of the RISE program – $10 million from the World Bank’s Target Fund for Support, Recovery, Reconstruction, and Reform of Ukraine (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.
Duration of the Program and New Initiatives
The RISE program will operate in Ukraine until 2027, focusing on supporting the implementation of the Small and Medium Enterprises (SME) Development Strategy. During the discussions, the preparation of a new industrial strategy for Ukraine was also raised, which should be aligned with export and investment strategies.