The European Union has launched a new financing program for small and medium-sized businesses in Ukraine within the Ukraine Investment Framework (UIF). The total amount of assistance is 1.6 billion euros, of which 1.4 billion euros are in the form of credit guarantees and another 200 million euros are grants and technical assistance, reported in the Ministry of Economy of Ukraine.
The program aims to support small and medium-sized businesses, facilitating access to financing by reducing risks for banks. This will allow entrepreneurs to receive loans with lower security requirements. The more funding is directed to the support of vulnerable categories, the higher the level of guarantee coverage for banks will be.
“The new competition for the banking sector within the framework of the UIF is an important step in directing investments specifically to the private sector. We strive to create conditions under which small and medium-sized enterprises, which provide about 80% of jobs in Ukraine, will have wider access to the necessary financing.
Special emphasis is placed on supporting enterprises operating in affected regions, employing veterans, internally displaced persons and representatives of vulnerable groups. It is important not only to stabilize the economy, but also to create conditions for its sustainable growth, including through the development of small and medium-sized businesses.”, – said Yuliya Svyridenko, Deputy Prime Minister and Minister of Economy of Ukraine.
