RISE Program: Ukraine plans to secure USD 390 million from the IBRD to support entrepreneurship

The Cabinet of Ministers of Ukraine has approved the raising of additional financing in the amount of USD 390 million from the International Bank for Reconstruction and Development (IBRD) to implement the “Resilient, Inclusive, and Sustainable Entreprise” (RISE) Program. This decision serves as the basis for concluding the relevant Loan Agreement.

The funds raised will fully cover the Program’s financing gap and allow resources to be directed toward achieving the planned results, particularly by 2026.

The financing is provided in the form of direct budget support—the funds are transferred to the general fund of the State Budget upon the achievement of specific Program indicators. Under the RISE Program, USD 540 million has already been secured for 2024–2025.

The agreements under RISE are a component of Ukraine’s economic recovery strategy and an important step in implementing joint efforts with international partners aimed at creating additional opportunities for small and medium-sized enterprises. Overall, the RISE Program will provide support to at least 20,000 small and medium-sized enterprises by 2027.

Background information

Four agreements totaling USD 681 million have been signed under the RISE Program:

• Loan agreement No. 9739-UA dated November 4, 2024, in the amount of USD 283.0 million;

• Financing Agreement in the amount of USD 300.0 million dated November 4, 2024, No. 7648-UA;

• Loan Agreement (Additional Results-Based Financing for "Resilient, Inclusive, and Sustainable Entreprise”) in the amount of USD 88.0 million dated September 15, 2025, No. 9879-UA;

• Grant Agreement in the amount of USD 10 million dated November 4, 2024, No. TF0C6617.