The program provides support for 20 thousand small and medium-sized enterprises (SME), which will create or maintain at least 40 thousand jobs.
The World Bank is launching a new $593 million private sector development program in Ukraine. This was reported by the WB press service.
The program provides support for 20 thousand small and medium-sized enterprises (SME), which will create or maintain at least 40 thousand jobs.
The Sustainable, Inclusive and Sustainable Entrepreneurship (RISE) program will improve the effectiveness of government support for SMEs, with a focus on green competition. The program will improve the business environment through digital services in line with the Government to Business (G2B) model and enable SMEs to access export markets.
According to World Bank Regional Director for Eastern Europe Bob Som, the RISE program is part of the World Bank’s efforts to support the people of Ukraine and Ukrainian companies in the face of ongoing shelling, power outages and shortages making. The program is in line with the Ukrainian government’s policy towards the development of the private sector as the main driving force behind the country’s recovery and sustainable growth.
Funding for the RISE program consists of $283 million from the Japan-backed ADVANCE Ukraine Trust Fund, $300 million from the International Development Association (IDA) Special Program for the Recovery of Ukraine and Moldova, and $10 million from Ukraine Support, Recovery , Renewal and Reform Trust Fund (URTF).
We remind you that the World Bank will create a special financial trust fund for Ukraine, the size of which will be at least $10 billion.
It was previously reported that the World Bank will allocate $415 million for an educational project in Ukraine.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.