Ukraine has received $290 million in funding from the World Bank as part of the 'Resilient, Inclusive and Environmentally Balanced Entrepreneurship' (RISE) Program. This became possible due to the achievement of the goals set by the Program for 2025.
The funds were provided based on the results of work in the following key areas:
- supporting the entry of small and medium enterprises into foreign markets;
- implementing environmental and social standards in business financing programs;
- developing digital services for entrepreneurs and simplifying permitting procedures.
Agreements under RISE
Agreements under RISE are part of Ukraine's economic recovery strategy and an important step in realizing joint efforts with international partners for the sustainable development of the Ukrainian economy and creating new opportunities for SMEs.
The program seeks to implement best international practices in SME support programs, develop business services, as well as reform the business environment (simplifying regulatory procedures, digital services, harmonizing standards with the European Union).
The responsibility for the implementation of the RISE Program rests with the Ministry of Finance, while the executor is the Ministry of Economy, Environment and Agriculture. A number of public and commercial institutions are also involved in the implementation of the Program.
This news confirms the interest of international organizations in the development of Ukrainian entrepreneurship and demonstrates successful cooperation with the government in achieving common goals.