Resilient, Inclusive and Sustainable Enterprise Program for Results

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The objective of the Resilient, Inclusive and Sustainable Enterprise Program for Results is to improve the enabling environment for a sustainable private sector-led recovery in Ukraine. Successful recovery and reconstruction, and progress toward European Union (EU) standards, will require significant institutional reforms that both strengthen public sector capacity and facilitate a resilient and competitive private sector. Implementation of extensive reforms, both prior to February 2022 and during the past two years, has played a major role in enabling the government to deliver on its core functions and initiate recovery. But further changes are needed. Experience from other countries highlights the central role of government in managing resource allocation and ensuring coordination during the reconstruction process. Moreover, given the scale of financing needs and the capacity of the Ukrainian private sector, there is a significant opportunity and need to take full advantage of the potential for the private sector to finance and execute recovery and reconstruction investments. In this context, the Ukraine Plan, which includes economy-wide and sectoral reforms, increasing the capacity to absorb investment, and crosscutting issues such as European integration, digital transformation, green transition, environmental protection, as well as human capital, plays a critical role over the coming years. The National Economic Strategy (NES) (2021-2030), the Ukraine Plan (2024-2027) and Ukraine’s Reforms Matrix 2024 lay out key reforms to support SMEs and stimulate business activity. Key relevant reform areas of the NES focus on entrepreneurship development, regulatory environment, investment attractiveness and international economic policy and trade. The recently adopted Ukraine Plan (2024-2027) focuses on three key directions as regards to the private sector reform agenda: improving the regulatory environment, facilitating access to finance and markets, and closing the gap between EU and Ukrainian policy frameworks, through a series of micro, sector-wide reforms with the transition to a green, digital, and inclusive economy being stipulated as cross-cutting themes. Relevant reforms are also outlined in Ukraine’s Reforms Matrix’s pillar on economic competitiveness.