Ukraine to Receive $88 Million from the World Bank: What the Funds Will Be Used For.

According to inkorr.com: Ukraine has received 88 million US dollars under the World Bank project 'Resilient, Inclusive and Environmentally Balanced Entrepreneurship' (RISE), aimed at supporting the private sector. These funds are provided through a guarantee from the Government of Japan via the International Bank for Reconstruction and Development (IBRD).

Goals of the RISE Initiative

The RISE project aims to address the challenges hindering the stable development of the private sector. The total amount allocated for its implementation in 2024-2027 is over 1 billion US dollars, of which 593 million US dollars have already been released.

In 2024, a loan of 283 million US dollars was drawn from the IBRD (under the guarantee of Japan, with capitalization of 33 million US dollars), a credit from the International Development Association (IDA) of 300 million US dollars, and a grant from URTF of 10 million US dollars.

Additional Funding

Moreover, it is planned to raise 80 million US dollars for the general fund of the State Budget of Ukraine. Finance Minister Serhiy Marchenko emphasized the importance of cooperation with the World Bank and support from the Government of Japan during these challenging times for Ukraine's economy due to the war.

This agreement will provide Ukraine with significant resources to support the private sector, which in turn will contribute to its sustainable development and positively impact the country’s economy.

By continuing to support the private sector, Ukraine aims to restore its economy, the resilience of which is currently under threat due to the war. Cooperation with international partners, such as the World Bank and the Government of Japan, has significant potential to create new business opportunities and ensure stability in the country.