The World Bank has announced the launch of a new RISE programme aimed at developing the private sector in Ukraine with a budget of $593 million, the WB press service reports. The programme will support 20,000 small and medium-sized enterprises (SMEs), help create or save about 40,000 jobs, and strengthen government support for business after Russia’s full-scale invasion.
RISE (Resilient, Inclusive and Sustainable Entrepreneurship Programme) will help optimise digital services for SMEs and facilitate their access to international markets. The Ministry of Economy of Ukraine will be responsible for implementing this initiative.
“The RISE programme is designed to support Ukrainians and their businesses in the face of the war and to help them recover,” said Bob Som, World Bank Regional Director for Eastern Europe.
The project’s financing consists of contributions from the ADVANCE Ukraine Trust Fund ($283 million) supported by Japan, $300 million from the International Development Association (IDA) for Ukraine and Moldova, and $10 million from the URTF for recovery and reform.
