ARISE: how 595 million dollars in aid is restoring Ukrainian business during the war
The ARISE project actively supports Ukrainian businesses during the war by providing financial assistance for recovery and development, particularly in the agricultural sector. The implementation of this project is scheduled for the period from 2023 to 2025. The total amount of attracted funds is 595 million US dollars, which has a significant impact on the recovery of the country's economy.
The main part of the project's financing consists of a loan from the International Bank for Reconstruction and Development (IBRD) amounting to 230 million US dollars. In addition, grant assistance from the Target Fund URTF amounts to 365 million US dollars. These funds are intended to support Ukrainian enterprises that find themselves in difficult conditions due to the war.
Support for the agricultural sector
One of the enterprises receiving support within the ARISE project is 'Lan', located in Smila/Ploskoye, Cherkasy region. This indicates the importance of supporting the agricultural sector, which is key to Ukraine's economy.
To implement the project, organizations such as the following have been involved:
- Ministry of Finance of Ukraine
- Ministry of Economy of Ukraine
- Entrepreneurship Development Fund
- World Bank Office in Ukraine
The joint efforts of these institutions are aimed at creating conditions for business recovery and supporting entrepreneurs in Ukraine.
The ARISE project is an important step in the recovery of the Ukrainian economy, especially in the context of war, which has caused significant damage to many enterprises. The funding provided through cooperation with international organizations will help not only to support existing businesses but also to stimulate their development in the future, which is critically important for ensuring the country's economic stability. It is important that such initiatives continue, as the recovery of Ukraine's economy requires efforts at all levels.