Ukraine received USD 290 million from Japan and the World Bank to support the private sector

Ukraine has received USD 290 million under the World Bank’s Resilient, Inclusive and Sustainable Enterprise (RISE) project to support the private sector.

Some USD 80 million was mobilized through a guarantee from the Government of Japan via the International Bank for Reconstruction and Development (IBRD).

The project aims to address critical challenges hindering the resilience, growth, and sustainable development of the private sector, including regulatory burdens, limited access to finance, and insufficient market opportunities.

RISE is implemented using the Program-for-Results (PforR) financing instrument, which provides funding only after the achievement of agreed performance indicators.

To obtain the latest tranche, Ukraine fulfilled several requirements, including:

• At least 20 banks – which together account for 90% of all lending under the 5-7-9 program – have introduced environmental and social management systems.
• The Diia.Business 2.0 portal has recorded over 500,000 unique visits, with 90,000 users creating personal accounts.
• Ten export-oriented SME projects received insurance from the Export Credit Agency of Ukraine (ECA), including coverage of war-related risks in line with ECA’s new strategy.

The RISE project has been implemented in Ukraine since 2024. Under the initiative, the World Bank has already signed agreements with Ukraine totaling USD 681 million. The overall financing planned for 2024-2027 exceeds USD 1 billion, of which USD 540 million has already been mobilized.

“The World Bank is a reliable partner for Ukraine, helping us navigate the most challenging times while maintaining financial resilience and advancing reforms. In particular, the RISE project supports the creation of a more efficient and predictable environment for business development in Ukraine. It lays the foundation for the sustainable recovery of the private sector, which is essential for the country’s long-term economic growth,” noted Deputy Minister of Finance Olga Zykova.