KYIV, Nov 1 – The World Bank announced the launch of a new $593 million private sector development program in Ukraine, which will support 20,000 small and medium enterprises (SMEs) and help create or preserve at least 40,000 jobs thanks to support programs introduced by the Ukrainian government after the Russian invasion.

"Financing for RISE includes $283 million from the Japan supported ADVANCE Ukraine trust fund, $300 million from the International Development Association (IDA) Special Program for Ukraine and Moldova Recovery, and $10 million from the Ukraine Relief, Recovery, Reconstruction and Reform Trust Fund (URTF)," the World Bank press release stated on Friday night.