The state budget of Ukraine has received $290 million from the World Bank under the “Resilient, Inclusive, and Environmentally Sustainable Entrepreneurship” (RISE) program. This funding has been made possible due to the government’s achievements in meeting the program indicators set for 2025 in key sectors.
This is reported by Finway
Key Areas of Funding and Program Implementation
The investments are aimed, in particular, at expanding the capabilities of small and medium-sized enterprises to access foreign markets, integrating environmental and social standards into entrepreneurship financing, as well as developing digital services for businesses and simplifying permitting procedures. The RISE program involves the active implementation of modern international practices to support small and medium-sized enterprises, the development of business services, and the reform of the business climate — specifically simplifying regulatory procedures, implementing G2B digital services, and harmonizing standards with the European Union.
Funding and Program Participants
In November 2024, Ukraine signed key agreements with the World Bank, which laid the groundwork for the program’s implementation. The total amount of funding anticipated under the existing agreements reaches $681 million. In 2024, after meeting specified conditions, $250 million has already been attracted to the state budget.
The RISE program aims to support at least 20,000 small and medium-sized enterprises by 2027. A number of entities are involved in the implementation of this initiative, including the State Export Credit Agency, the Entrepreneurship Development Fund, the State Office for Entrepreneurship and Export Development, the State Enterprise “Made in Ukraine”, the State Enterprise “Professional Procurement”, and the State Enterprise “UkraineInvest”.
“In November 2024, key agreements were signed between Ukraine and the World Bank, which initiated the program’s implementation. The total anticipated funding under the existing agreements for the program amounts to $681 million,” the statement reads.
The Ministry of Finance of Ukraine is responsible for overseeing the implementation of the RISE program, while the Ministry of Economy, Environment, and Agriculture of Ukraine acts as its executor.