Ukraine will receive an additional $300M under the RISE program to support business initiatives.

The Ministry of Economy and the World Bank discussed the implementation of the RISE program. Under this initiative, Ukraine signed agreements with the World Bank last year totaling $593M and has already received $236M. If the program’s key indicators are successfully implemented, Ukraine expects to receive another $300M this year.

“We are close to launching the grant component of the RISE program – $10M from the World Bank’s Ukraine Recovery, Reconstruction, and Reform Trust Fund (URTF). This will allow us to direct more resources to the development of small and medium-sized enterprises, support the green transition, improve the business climate and digital transformation and expand access of Ukrainian enterprises to foreign markets,” said Deputy Minister of Economy Oleksiy Sobolev.

This program will operate in Ukraine until 2027, supporting the implementation of the Small and Medium-Sized Enterprises Development Strategy. The parties also discussed preparations for a new industrial strategy for Ukraine, focusing on its alignment with export and investment strategies.