Ukraine has signed agreements with the World Bank for almost $600 million within the framework of the "Sustainable, Inclusive and Ecologically Balanced Enterprise" (RISE) program. It is aimed at supporting small and medium-sized businesses.
This was reported by the Prime Minister of Ukraine Denys Shmyhal.
It was agreed to launch a new program during the Spring Meetings in Washington, USA. The Ministry of Finance and the Ministry of Economy of Ukraine concluded relevant agreements with the World Bank on November 4.
The purpose of the RISE project is to support small and medium-sized businesses, transition to green energy, improve the business environment, digitize and promote access to new markets. The project is designed to last until 2027, and more than a billion dollars are planned to be invested in it.
The Ukrainian government expects the program to strengthen the economy and strengthen Ukrainian small and medium-sized businesses to face modern challenges.
- In October 2024, the Executive Board of the World Bank created the Extended Fund Facility (EFF) to support Ukraine. Initially, the first contributions to the fund will come from the United States, Canada and Japan.
- Earlier, the Board of Directors of the financial institution approved the launch of the Learn project aimed at supporting the education system in Ukraine. The available amount of financing is $415 million.
- At the end of 2023, the Cabinet of Ministers changed the rules governing the provision of financial state support to businesses. Thus, at the request of the International Monetary Fund, the program "Affordable loans 5-7-9%" was supposed to focus exclusively on micro, small and medium-sized enterprises. The program gives small, medium and large businesses simplified access to bank lending.
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