CABINET INSTRUCTS FINANCE MINISTRY TO APPROVE STATUTE OF GERMAN-UKRAINIAN FUND

Business news from the Ukrainian League of Industrialists and Entrepreneurs

CABINET INSTRUCTS FINANCE MINISTRY TO APPROVE STATUTE OF GERMAN-UKRAINIAN FUND

18 Apr , 2017  

KYIV. April 18 (Interfax-Ukraine) – The Cabinet of Ministers of Ukraine has instructed the Ministry of Finance to approve the statute of the German-Ukrainian Fund.
According to resolution No. 244 of April 5, the government invalidated the provision on the German-Ukrainian Fund from May 23, 2017 and instructed the Finance Ministry to approve its statute.
The report states the founders of the German-Ukrainian Fund are KfW, the Cabinet of Ministers, the Ministry of Finance and the National Bank of Ukraine. The fund is a non-profit organization that operates on the principle of a second-tier financial institution and ensures the re-use of available financial resources solely for the support of micro, small and medium-sized enterprises.