At its session on July 1, the Cabinet of Ministers of Ukraine approved three draft agreements that will enable to attract financial assistance from the European Union, in particular for the support of Ukrainian entrepreneurs.

According to the Prime Minister of Ukraine Denys Shmyhal, the endorsed draft deals will allow Ukraine to receive assistance totaling EUR 105 million, or actually UAH 3 billion.

"This is an additional resource that, along with anti-crisis measures, will enable us to overcome the consequences of the coronavirus-inflicted crisis as fast as possible while small and medium-sized businesses to develop faster," the Head of Government emphasized.

Moreover, the PM said that applies to the following agreements: "First, it is EU4BUSINESS. The implementation of the program will allow providing grants for regional projects for the development of small and medium-sized enterprises in the regions." Under this agreement, Ukraine should receive EUR 20 million.

The second agreement, according to Denys Shmyhal, is a technical cooperation program for 2020, for Ukraine to direct EUR 60 million to strengthen institutional capacity aimed to ensure the implementation of critical reforms towards European integration (in particular, regarding the implementation of provisions of the Association Agreement and the Free Trade Area between Ukraine and the EU).

"And the third is the EU Support Program for the development of agriculture and small farms in Ukraine. Here it is important that the aid will be directed to small farms so that they can compete better and create added value," concluded Denys Shmyhal. The amount of such assistance to Ukraine under the deal is EUR 25 million.