Business news from Ukraine

Ministry of Economy and USAID launch $15 mln grant program for medium and large enterprises

24 December , 2023  

The Ministry of Economy and USAID are launching a $15 million grant program for medium and large enterprises, under which one business will be able to receive a grant of $250,000 to $2 million.

“Companies with an estimated minimum annual sales of $8 million in hryvnia equivalent are invited to participate in the program. This figure is important given that the target sales growth based on the results of the concept implementation should be at least $2 million,” the Ministry of Economy said in a release.

It is noted that grant funding should be used by program participants to develop their business, in particular, to increase sales, increase exports and create new jobs.

The condition for participation in the program is the investment of additional funds – the company’s own funds or other resources attracted by the company. The program participants will be selected in two stages: the first is the evaluation of concepts, and the second is the evaluation of detailed grant applications from participants who have passed the first stage. One of the criteria for evaluating concepts will be the number of jobs created.

It is specified that the concepts must be submitted no later than February 29, 2024. They are expected to be implemented within 12-24 months.