USAID program to provide $1.5M to support women in business - Ministry of Economy

USAID program to provide $1.5M to support women in business - Ministry of Economy

The USAID Competitive Economy Program announces a USD 1.5 million grant program for small and medium-sized family-owned and women-owned businesses.

According to Ukrinform, Ukraine’s Economy Ministry reported this.

The initiative will provide grants in the amount of USD 10,000 to 35,000. The grants will be provided for relocation activities, opening a new business line, scaling up business in Ukraine, entering international markets, implementing innovative solutions, and optimizing business processes.

The grant program is being implemented in partnership with Ukraine's Economy Ministry as part of the government's initiatives to support micro, small, and medium-sized businesses (eRobota), aimed at creating jobs, starting a new business, or expanding an existing one.

"Small and medium-sized businesses are the foundation of a stable economy. Therefore, the government is interested in stimulating their growth. We appreciate our cooperation with USAID, especially with the Competitive Economy program. We expect that this joint project will give a boost to the development of SMEs, help create new jobs, and become an additional incentive for the reindustrialization of Ukraine," Yulia Svyrydenko, First Deputy Prime Minister - Minister of Economy of Ukraine, said.

Read also: Gov't launches grant programs for veterans to start their business

According to the Ministry, applications for participation in the program will be accepted until July 24, 2023 inclusive. Given the significant interest, applications will be accepted and reviewed in several stages: May 19; June 16; July 24.

The priority sectors for grant support are the production of cosmetics, textiles, household goods, crafts, food processing, IT, furniture, and other products. However, the USAID Competitive Economy Program is open to applications for support of other sectors that meet the selection criteria.

As Ukrinform reported, as part of the first wave of applications for grants for veterans under the Vlasna sprava (lit. Own Business) program, 54 Ukrainian defenders requested UAH 21 million in grants to start or develop their businesses.

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