Business news from Ukraine

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

The Ministry of Economy together with USAID launch a grant program for medium and large enterprises for $15 million, under which one business will be able to receive a grant from $250 thousand to $2 million.

“Businesses with an estimated minimum annual sales volume of $8 million in hryvnia equivalent are invited to participate in the program. This indicator is important due to the fact that the target increase in sales by the results of the concept should be at least $2 million,” – said in the release of the Ministry of Economy.

It is indicated that the grant funding should be directed by the program participants to business development, in particular, to increase sales, increase exports and create new jobs.

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

It is specified that concepts should be submitted no later than February 29, 2024. It is expected that they will be implemented within 12-24 months.

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