Germany to invest $10 mln in development of small and medium-sized enterprises in Ukraine

Germany to invest $10 mln in development of small and medium-sized enterprises in Ukraine

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Ukrinform
The German Investment and Development Corporation (DEG) will contribute $10 million to the investment fund for the development of small and medium-sized enterprises in Ukraine.

This has been reported by DW with a reference to the Embassy of Germany in Ukraine.

“The Emerging Europe Growth Fund III (EEGF III) will help small and medium-sized businesses in Ukraine to obtain access to long-term financing,” reads the report.

The diplomatic representative office told that the fund invests in export-oriented industries, in particular in IT, light industry, food industry, as well as enterprises of electronic commerce and healthcare.

"Germany through this participation will strengthen its position as one of the most important countries investing in the Ukrainian economy. Germany's participation is a signal for other private and institutional investors," the embassy said.

The Emerging Europe Growth Fund III focuses on small and medium-sized enterprises that need funds for their own growth, and such financial support is expected to promote job creation, according to the embassy.

German diplomats also added that there are plans to increase the capital of the Emerging Europe Growth Fund III to $150 million.

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