More than 600 grants for Ukrainian companies agreed under EU4Business programme

By the end of December, it is planned to finalise all 750 grants provided for by the terms of the competition. Such results were shared by representatives of the Entrepreneurship Development Fund and banks participating in this programme during a meeting chaired by Iryna Vereshchuk, Deputy Prime Minister and Minister for Reintegration of the Temporarily Occupied Territories of Ukraine.

The competition has been implemented since August this year with the financial support of the German government and the European Union. Three banking institutions take part in the competition: Oschadbank JSC, PrivatBank JSC and Lviv Bank.

The maximum grant amount is UAH 160,000. The funds can be used to pay salaries, purchase fixed assets, goods and materials, rent, pay for services and work performed, etc.

The Programme has held three competitions for micro-entrepreneurs who are:

1. Registered and operating in the most affected regions. The winners were 217 applications worth UAH 34.2 million.

2. Registered and operating in the de-occupied territories, including those that have left and returned to the de-occupied territories. The winners were 54 applications worth UAH 8.4 million.

3. Important for the provision of basic goods, works and services, and registered and operating in all regions of Ukraine, except for the temporarily occupied territories. The winners were 359 applications worth UAH 56.3 million.

Most of the grantees are individual entrepreneurs engaged in manufacturing, restaurant or healthcare businesses. They need funds mainly for the purchase of raw materials, supplies and equipment.

The Deputy Prime Minister thanked the Programme’s implementers for their effective work and stressed that it was important to involve international donors in such initiatives. Indeed, support for small businesses is one of the key factors for the country’s economic recovery.