EU and EBRD will allocate 28 million euros to support small and medium-sized business in Ukraine.
The European Union and the European Reconstruction and Development Bank will provide 28 million euros for the business consulting, information and other support to small and medium-sized businesses in Ukraine.
In May the European Union and the European Bank for Reconstruction and Development signed an agreement under which they will allocate 28 million euros for the business consulting, information and other support to small and medium enterprises in Ukraine in the framework of “EU4Business” program. This is stated in the message EBRD.
This assistance also envisages the creation of a network of business support centers in Ukraine.
“Thousands of Ukrainian small and medium-sized business will directly benefit from this program, aimed at strengthening their competitiveness in local and international markets by providing in-depth consulting services, training and information activities”, – the report says.
The agreement is part of a broader “EU4Business” program, which also includes access Ukrainian small and medium-sized business to finance and provide significant technical assistance to the Government of Ukraine to the deregulation and the implementation of effective policies to support the private sector.
In addition to the existing offices in Kyiv and Lviv, the latter of which is focused on support for small and medium-sized business, the European Bank for Reconstruction and Development also plans to open new offices in Kharkov and Odessa in order to expand its activities.
In addition, the Bank will promote the creation of a network of business support centers “EU4Business” initiative context. These centers are expected to appear in the 15 regions of Ukraine.
It is planned that up to 12 million euro in the framework of the initiative “EU4Business” will be used for the purposes of direct financing that the Bank provides to small businesses.
In total, the initiative “EU4Business” small and medium enterprises in Georgia, Moldova and Ukraine will get 200 million. Euro in the form of grants. It is expected that this will contribute to new investments in the amount of not less than 2 billion euros in all three countries.
