EU, EBRD to allocate grants for SME development in Ukraine

04.11.2019 17:36

Ukrinform

The representatives of small and medium-sized enterprises can receive development grants from the European Union through the EU4Business initiative, which is partly implemented in Ukraine by the European Bank for Reconstruction and Development (EBRD).

The relevant programs for Ukrainian entrepreneurs were presented by EBRD representative Timur Khalilov at the RE:think. Invest in Ukraine forum in Mariupol.

To improve their business, the entrepreneurs can receive a grant of between 75% and 90% of the project cost, depending on who will be a company consultant.

Khalilov added that the EBRD offered loans to Ukrainian businesses. According to the analyst, over 1,000 projects have been implemented since 2010 thanks to the EBRD grant support to small and medium-sized enterprises for consulting projects.

According to the EBRD, overall 65% of Ukrainian companies have reported an 80% increase in turnover. They have also created over 6,500 new jobs and attracted over EUR 81 million in outward investments.

As reported, an agreement was signed between the EU and the EBRD in 2016, according to which EUR 40 million was allocated for consultancy, training, information and other support to small and medium-sized enterprises in Ukraine. The EBRD has planned and is currently implementing 160 consulting projects this year.

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