Japan allocated $88 million to Ukraine: how the money from the World Bank will be spent

Ukraine will receive 88 million US dollars in funding under the World Bank project 'Resilient, Inclusive, and Environmentally Sustainable Entrepreneurship' (RISE) to support the private sector. The money will be provided through a guarantee from the Government of Japan from the International Bank for Reconstruction and Development (IBRD).

The RISE initiative aims to address issues hindering the sustainable development of the private sector. A total of over 1 billion US dollars has been allocated for the implementation of the project, scheduled for 2024-2027, of which 593 million US dollars has already been allocated.

A loan of 283 million US dollars was attracted from the IBRD in 2024 (under the guarantee of Japan, with capitalization amounting to 33 million US dollars), a credit from the International Development Association (IDA) amounting to 300 million US dollars, and a grant from URTF amounting to 10 million US dollars.

It is also planned to attract 80 million US dollars to the General Fund of the State Budget of Ukraine. Finance Minister Serhiy Marchenko emphasized the importance of cooperation with the World Bank and the support of the Government of Japan during a challenging time for the country's economy due to the war.

As a result of the agreement, Ukraine will receive crucial funds to support the private sector, contributing to its sustainable development and positively impacting the country's economy.