On November 4, the leadership of the Ministry of Finance of Ukraine, the Ministry of Economy of Ukraine and representatives of the World Bank signed financial agreements under the new system project Resilient, Inclusive and Sustainable Enterprise Program (RISE).
This is stated in the notification of the Ministry of Finance, Ukrainian News Agency reports.
The amount of financing for the project is USD 593 million.
The signatories were the Minister of Finance of Ukraine, Serhii Marchenko, the First Vice Prime Minister - the Minister of Economy of Ukraine, Yuliya Svyrydenko, and the World Bank's Regional Director for Eastern European Affairs, Bob Saum.
The RISE PforR project is aimed at solving critical problems that hinder the sustainability, growth and sustainable development of the private sector.
The implementation of the project is planned for 2024-2027.
The total amount of financing for the implementation period is planned in the amount of more than USD 1 billion.
RISE is the second project with the World Bank that will be implemented using the Program-for-results (PforR) financial instrument.
The PforR part aims to review and support results in the following areas:
- increasing the effectiveness of state support for small and medium-sized enterprises with a focus on green competitiveness;
- improvement of the business environment and digital government services for business;
- ensuring access of SMEs to export markets.
The responsible executor of IPF RISE is the Ministry of Economy.
Within the framework of the IPF, the Ministry of Economy and the World Bank signed a grant agreement in the amount of USD 10 million within the framework of the multi-donor trust fund for support, recovery, reconstruction and reform (URTF).
As Ukrainian News Agency earlier reported, on October 31, 2024, the Board of Directors of the World Bank approved the RISE system project in Ukraine.
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