Ukraine will receive almost $600 million more from the World Bank

Ukraine has signed agreements with the World Bank worth almost $600 million. The funds will be allocated under a new financial support program for Ukraine.

This was reported by RBC-Ukraine with reference to the Telegram of the Prime Minister of Ukraine Denys Shmyhal.

According to the prime minister, the launch of the program was agreed upon during the Spring Meetings in Washington in April. And today, on November 4, the Ministry of Finance and the Ministry of Economy of Ukraine signed the relevant agreements with the World Bank.

This is a new project called “Resilient, Inclusive, and Sustainable Enterprise” (RISE), which aims to support small and medium-sized businesses, green transition, improve the business environment, digitalization, and facilitate entry into new markets.

The project is designed to run 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 meet modern challenges. I am grateful to the World Bank President, Ajay Banza, Managing Director, Anna Bjerde, and Regional Director, Bob Som, for their continued involvement and support of Ukraine in the midst of war,” Shmyhal said.

Author - Dmitriy Levchenko, 05/11/2024