Ukraine’s First Deputy Prime Minister – Minister of Economy, Yuliya Svyrydenko, met with World Bank Vice President for Europe and Central Asia, Antonella Bassani, during a working trip to the USA. The parties discussed further funding for the "Resilient, Inclusive, and Environmentally Sustainable Entrepreneurship" (RISE) programme, housing sector tools and mortgage programmes, support for Ukraine in long-term economic modeling, and the launch of the I_Can programme for regional development.
"The RISE programme is an excellent example of cooperation between the Ministry of Economy and the World Bank. By the end of this year, a payment of $250 million will be made. Next year, we expect to attract additional funds. The RISE programme will support up to 20,000 small and medium-sized enterprises and help create over 40,000 jobs through state business support programmes," said Yuliya Svyrydenko.
Additionally, the parties discussed progress on the housing sector strategy. Last month, a working group was established following a decision by the Cabinet of Ministers.
"We are ready to begin the actual process of analyzing and modeling the housing sector in close collaboration with the World Bank this month, including the development of an optimal financial model for social housing and the 'rent-to-own' approach. During the first half of 2025, based on financial modeling, we plan to develop an updated strategy for 'Ukrfinzhytlo' – the company managing the subsidized mortgage programme 'eOselya,'" noted the minister.
The minister also expressed expectations for the swift launch of the I_CAN project, aimed at regional development. This will contribute to attracting investment into communities, rebuilding affected regions, and bringing people back.
The parties also discussed how the Government of Ukraine can synchronize World Bank programmes with EU integration processes.
Finally, Yuliya Svyrydenko thanked the World Bank for systematically mobilizing funding for the reconstruction of Ukraine through its programmes. Recently, the Government of Austria transferred a grant contribution of 10 million euros to the World Bank’s Ukraine Recovery, Reconstruction, and Reform Trust Fund (URTF). These funds will be directed toward the recovery of Ukraine’s energy sector and other critical infrastructure, as well as supporting the implementation of priority reforms.
Note:
The Ukraine Recovery, Reconstruction, and Reform Trust Fund (URTF) is a fast and flexible platform that enables the World Bank to identify priorities and direct funding to the most urgent development needs identified by the Government of Ukraine.
The fund was established in December 2022 and has since become a platform for mobilizing grant assistance from international partners to address the consequences of the war. Since its creation, the fund has financed several key projects, including recovery in the housing sector, the creation of protective structures for energy infrastructure, and affordable financing under the "Affordable Loans 5-7-9" programme in agriculture.
