The state budget of Ukraine received $235 million in concessional financing from Japan under two World Bank projects — "Sustainable, Inclusive and Ecologically Balanced Entrepreneurship" (RISE) and "Increasing Accessibility and Sustainability of Education in Crisis Conditions in Ukraine" (LEARN).
This was reported by the Ministry of Finance of Ukraine.
Under the RISE project, Japan allocated $130 million in loans. This should help to address critical issues that hinder the sustainability, growth and sustainable development of the private sector.
Another $105 million is the result of Ukraine ensuring face-to-face education in schools with shelter and school bus subsidies in 2024. The main goal of the LEARN project is to improve the educational process in Ukraine and create safe conditions for educators and students.
These projects are implemented using the financial instrument Program-for-Results — PforR. That is, this money is given when Ukraine fulfills certain criteria. By the end of 2024, Ukraine plans to receive another $120 million and $95 million within the framework of RISE and LEARN.
In general, since February 2022, budget support from Japan, attracted through the mechanisms of the World Bank, has reached almost $6 billion.
- Also today, November 27, Ukraine received $4.8 billion from the World Bank within the framework of the PEACE project.
- The World Bank is an international credit and financial institution that promotes economic development and poverty reduction in the world. The Bank provides loans, grants, and other assistance to countries so that they can improve infrastructure, education, medicine, agriculture, and more.
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