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.
