Ukraine will receive $600 million from the World Bank: what will the funds be used for?
Kyiv • UNN
Ukraine has signed agreements with the World Bank for $600 million under the RISE program to support business. The project will run until 2027 with a total budget of over $1 billion.
Ukraine has signed agreements with the World Bank worth almost $600 million under a new program, Prime Minister Denys Shmyhal said, reports UNN.
“Ukraine has signed agreements with the World Bank worth almost $600 million under the new program. It was agreed upon during the Spring Meetings in Washington. And today the Ministry of Finance and the Ministry of Economy signed the relevant agreements with the Bank,” Shmyhal wrote.
According to him, this is a new project called Resilient, Inclusive and Sustainable Entrepreneurship (RISE), which aims to support small and medium-sized businesses, green transition, improve the business environment, digitalize and facilitate entry into new markets.
Shmyhal noted that the project is designed to last until 2027, and the total planned amount of the program is more than $1 billion.
“This will significantly strengthen the Ukrainian economy and strengthen Ukrainian small and medium-sized businesses to counter current challenges,” Shmyhal added.
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