World Bank to finance Ukrainian business with over US$500 mln
www.pravda.com.ua
Fri, 01 Nov 2024 11:12:30 +0200
The World Bank is launching a new program to support small and mediumsized businesses in Ukraine, with the program itself being worth US593 million.
Source World Bank The funding consists of US283 million from the ADVANCE Ukraine trust fund supported by Japan, US300 million from the International Development Association IDA Special Program for Ukraine and Moldova Recovery, and US10 million from the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund URTF. The Resilient, Inclusive, and Sustainable Enterprise RISE Program aims to support 20,000 small and mediumsized enterprises and is expected to preserve at least 40,000 jobs amid the war. Reportedly, the funding may increase depending on the results achieved.
Background As at the beginning of this year, the World Bank expects the Ukrainian economy to grow by 3.2 by the end of 2024.
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