Business support and economic recovery: Ukraine and Germany sign declaration

Business support and economic recovery: Ukraine and Germany sign declaration

Ukraine and Germany have signed a declaration that will further develop the capacity for institutional development and implementation of corporate reform of the Entrepreneurship Development Fund.

According to Ukrinform, the press service of the Ministry of Finance reports.

"Support for small and medium-sized businesses is one of the priorities of the Government of Ukraine and is carried out through the state programme "Affordable Loans 5-7-9%". Expert and financial support from KfW allows us to continue providing Ukrainian businesses with affordable financing, which in turn contributes to the country's economic recovery in the context of a full-scale war of the Russian Federation," said Minister of Finance of Ukraine Sergii Marchenko.

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It is noted that the parties signed a Joint Declaration of Intent to support the development of capacity for institutional strengthening coordinated by the KfW Reconstruction Credit Institution. The Declaration envisages support to the Ministry of Finance of Ukraine in supervising and coordinating the activities of national development and development assistance institutions, strengthening the institutional capacity of the Ministry of Finance of Ukraine with a special focus on internal procedures and systems for strategic analysis and information management. Advisory support to the Entrepreneurship Development Fund in the process of its institutional reform is also envisaged.

As reported earlier, on 10 June, on the eve of the International Conference on the Restoration of Ukraine, Volodymyr Kudrytskyi, Chairman of the Board of NPC Ukrenergo, Christiane Laibach, Member of the Board of the German Development Bank KfW, and Veronica Garcia del Arco, Director of KfW for Eastern Europe, Caucasus, Central Asia, met in Berlin, in the presence of Ukraine's Energy Minister Herman Halushchenko, Director General of the European Commission's Directorate-General for Enlargement Gert Jan Koopman and State Secretary of the German Federal Ministry for Economic Cooperation and Development Jochen Flasbart, signed a loan agreement worth EUR 30.4 million.

Photo: Ministry of Finance

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