The Ministry of Health of Ukraine and the USAID Healthcare Reform Support Project have launched an all-Ukrainian online sociological survey of patients called “Patient Voice”.
According to the Ministry on its website, the survey will allow to explore the experience of Ukrainian patients with the medical system to assess the perception of changes in the healthcare system.
The Ministry of Health reminds that in March-September 2024, the Voice of Healthcare Workers survey will also be conducted.
OTP Bank and SVD-Development LLC have signed the first agreement on provision of factoring services under the joint program to support financing of Ukrainian business between OTP Bank and the USAID Project “Investments for Business Sustainability” (formerly USAID Financial Sector Reform Project).
The factoring agreement provides for financing in the amount of UAH 20 million for the supply of products by SVD-Distribution LLC to the network of a Ukrainian retailer of household appliances and electronics.
“Our company was established in difficult times – in November 2022. We decided not to postpone the implementation of the new project. Given our experience, the project is developing, creating jobs (16 people), gaining momentum, and we plan to grow in 2024, including through the OTP Bank and USAID program. Providing financial support, namely factoring on special terms, which we receive under the OTP Bank and USAID program, will help us replenish working capital for the supplied household appliances to the chain of stores and provide additional resources and opportunities for further development. Given the lengthening of logistics chains, our project needs just such a financing instrument,” said Natalia Teslenko, Managing Director of SVD-Distribution LLC.
Olga Volkova, Director of the Sales Department for Medium and Small Corporate Clients of OTP Bank, said that a significant number of corporate clients, especially large companies, when concluding agreements with suppliers, ask for a certain delay in payments for the delivered goods, which can reach 90 days and significantly increases the need for working capital for their partners. “Factoring allows the supplier to receive funds for its goods in the form of a tranche from the Bank immediately after delivery, without waiting for the buyer to pay. This is an effective means of quickly replenishing working capital, which, I emphasize, does not require collateral. It is especially beneficial and convenient for MSMEs, and partial compensation of the interest rate under the OTP Bank’s program with USAID makes it even more economically attractive. Therefore, companies that provide deferred payments for the supply of their goods and need working capital to finance such cash gaps are welcome to apply to the Bank and receive financing at a reduced interest rate,” she emphasized.
The USAID Project “Invest for Business Resilience” increases the supply of financing for businesses by working with a wide range of financial intermediaries, including banks, leasing, insurance companies and others, who raise funds and channel them into effective investments. “We help to unlock access to financial products for MSMEs on acceptable terms to support their businesses. As part of our joint program with OTP Bank, we facilitate access to affordable factoring financing, as this tool has been successfully used in Europe and other parts of the world. It improves business cash flow and frees up funds associated with unpaid invoices. The Business Resilience Investment Project expects to increase the number of factoring transactions and will continue to support the development of the factoring market in Ukraine,” said Yulia Vitka, Acting Chief of Party of the USAID Business Resilience Investment Project.
To learn more about SME factoring financing under the joint program of OTP Bank and USAID, as well as to apply for the service, please follow the link.
The USAID Economic Support for Ukraine Project (USAID Project) has purchased 85 grain railcars for Louis Dreyfus, the largest exporter of Ukrainian grain and oilseeds among foreign companies, the project’s press service reports on Facebook.
According to the report, the first 20 railcars have already been delivered to one of the company’s elevators.
USAID expects that the use of additional railcars will increase grain exports by 110 thousand tons annually. In addition, Louis Dreyfus will be able to expand its geography and ship grain from regions of Ukraine where it was not possible to export grain.
The Louis Dreyfus representative office in Ukraine owns 660 railcars, some of which are located in the temporarily occupied territories. The agricultural trader exports grain to Asia, Africa and Europe.
The USAID clarified that the purchase of equipment for agricultural companies is carried out within the framework of the Agriculture Sustainability Initiative in Ukraine (AGRI-Ukraine), implemented by the United States Agency for International Development, to mitigate the global food crisis, which has been exacerbated by Russia’s war against Ukraine.
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.
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.
The United States Agency for International Development (USAID) has tripled its grant support under the Competitive Economy of Ukraine program to $11 million, the Ministry of Economy reported on its website on Thursday.
It is noted that the decision was made taking into account the large number of applications and significant interest from processing enterprises.
The increase in funding will also increase the number of grants by about three times, to about 75.
It is specified that the grants will support businesses in the production of innovative products, modernization of production, reduction of manual labor, import substitution and export growth to fill niches previously occupied by Russian and Belarusian products, and localization of production of goods necessary for recovery.
USAID’s Competitive Economy Program supports Ukrainian businesses to improve their competitiveness in Ukraine’s domestic and international markets, helps build a simplified and transparent business climate, and provides Ukrainian companies with opportunities to take advantage of international trade.
