Ukrainian small businesses can receive financial support under EBRD program
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Small businesses in Ukraine will benefit from new finance opportunities of up to €120 million under a programme organised by the EU, the European Bank for Reconstruction and Development (EBRD) and its partner banks.
“New local currency facilities will provide the equivalent of almost €70 million under the EU4Business initiative. The funds will be lent to local small businesses for investments and working capital purposes. Small and medium-sized enterprises (SMEs) drive the local economy and create almost 80% of jobs in the country. The local currency loans will protect them from the volatility of the currency exchange rate,” the EU Delegation to Ukraine reports.

As noted, the EU4Business initiative aims to improve Ukrainian SMEs’ access to finance and business knowledge through its advisory services, financing and training. It also helps SMEs to create jobs by equipping them with new skills and supporting their ambitions to export to the largest neighbouring market – the EU single market – with more than 500 million consumers.

Three local banks have already signed up to the programme. More local financial institutions are expected to join the programme in the future.