Representatives of Ukraine’s Economy Ministry and a World Bank mission have reviewed key areas of economic development, including the implementation of the balanced entrepreneurship initiative.
The primary focus of the mission was on the implementation of the Resilient, Inclusive and Sustainable Enterprise (RISE) program, Ukrinform reports, citing the ministry.
Last year, Ukraine signed agreements with the World Bank under this program totaling $593 million, of which $236 million has already been disbursed to the state budget.
If Ukraine successfully meets the program’s key performance indicators, it expects to receive an additional $300 million this year.
“This week, we made tangible progress in coordinating with our partners. In particular, we are approaching the launch of the grant component of the RISE program — $10 million from the World Bank’s Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF). This will enable us to allocate more resources toward SME development, support for the green transition, improving the business climate, advancing digital transformation, and expanding access of Ukrainian enterprises to global markets,” said First Deputy Minister of Economy Oleksii Sobolev.
According to him, the program will run in Ukraine until 2027, with a focus on supporting the implementation of the SME Development Strategy.
The parties also discussed the preparation of a new industrial strategy for Ukraine, emphasizing alignment with the country’s export and investment strategies.
Deputy Minister of Economy Andrii Teliupa highlighted the importance of maintaining a balance between transparency, environmental standards, and localization. He identified dual-use technologies — particularly drone production for defense and civilian sectors — as a promising area for growth.
Discussions also included deepening cooperation in corporate governance and privatization, with agreement that reforms should form part of a broader economic growth strategy, aimed at making the public sector more efficient.
The sides also addressed the improvement of public procurement systems. World Bank experts provided recommendations on enhancing competition laws and leveraging customs and tax data to analyze business trends in Ukraine before and after the onset of the full-scale war.
A World Bank technical assistance mission focused on supporting Ukraine’s financial sector has been working in the country since May 8.
Source: Ukraine, World Bank move closer to launching grant component of RISE program
