Within the framework of the new program "Sustainable, inclusive and ecologically balanced entrepreneurship" (RISE), Ukraine signed agreements with the World Bank in the amount of almost 600 million dollars.
Points of attention
- Ukraine signed a new agreement with the World Bank for the 'Sustainable, inclusive and ecologically balanced entrepreneurship' program, allocating nearly 600 million dollars.
- The RISE program aims to support small and medium-sized businesses, green transition, improvement of the business environment, and digitization, running until 2027 with a total planned amount exceeding 1 billion dollars.
- The cooperation with the World Bank has enabled Ukraine to receive over USD 37 billion in budget support from international partners, strengthening the country's economy amidst challenges.
- The willingness of the World Bank to support Ukraine during the war and develop new programs underscores the value of international partnership in securing the country's stability and growth.
- The new agreement signifies a significant step towards boosting Ukrainian economy and empowering small and medium-sized businesses to thrive in the face of modern obstacles.
Ukraine and the World Bank signed a new agreement
This was reported by Prime Minister Denys Shmyhal on November 4.
Ukraine signed agreements with the World Bank in the amount of almost 600 million dollars within the framework of the new program. It was agreed upon at the Spring Meetings in Washington. And today the relevant agreements with the Bank were signed by the Ministry of Finance and the Ministry of Economy.
Denis Shmyhal
Prime Minister of Ukraine
Shmyhal clarified that it is about the new project "Sustainable, inclusive and ecologically balanced entrepreneurship" (RISE), aimed at supporting small and medium-sized businesses, green transition, improvement of the business environment, digitalization and promotion of access to new markets. The project is scheduled to run until 2027, and the total planned amount of the program is more than 1 billion dollars.
This will significantly strengthen the Ukrainian economy and strengthen Ukrainian small and medium-sized businesses to counter modern challenges. Thank you to World Bank President Ajay Banza, Managing Director Anna Bjerde, and Regional Director Bob Som for their continued involvement and support of Ukraine during the war.
The World Bank supports Ukraine
Since February 2022, Ukraine has already received more than USD 37 billion in budget support thanks to resources from international partners attracted through World Bank mechanisms.
This was reported by the Ministry of Finance.
The willingness of the World Bank to support Ukraine in a period of extreme uncertainty and to develop new programs in line with the challenges is extremely valuable for the country during a full-scale war. Thanks to our cooperation, Ukraine has already received more than 37 billion US dollars in budget support at the expense of resources attracted through the mechanisms of the Bank from international partners, — said Minister of Finance Serhiy Marchenko at a meeting with the President of the World Bank Group Ajay Banga in Washington.
