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Укр Big money for small business: Oschadbank allocates millions of euros to finance MSMEs with support from Germany
Oschadbank is starting the implementation of the second phase of the Project "Access to financing and support for the sustainability of MSMEs in Ukraine II" within the framework of the international cooperation project ReACT4UA ("Application and implementation of the Association Agreement between the European Union and Ukraine in the field of trade") on the provision of grant support to micro, small and medium-sized businesses involved in economically important business areas for Ukraine, such as agriculture, in particular the supply and processing of food products , garment (textile) industry, processing industry, as well as export-oriented production. About this informed the press service of the bank.
This Project is financed by the German government and implemented by the German federal company Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH in cooperation with Deutsche Sparkassenstiftung für international Kooperation (DSIK) and the Entrepreneurship Development Fund (FDP).
Thanks to the second phase of the Project, more than 500 enterprises will be able to receive financial support for the realization of their own business ideas.
The second phase of the Project envisages a more than threefold increase in the budget, which amounts to 4.2 million euros. Thanks to the Project, internally displaced enterprises and enterprises from de-occupied territories will be able to receive a grant amount (compensation) in the amount of 30% of the cost investment project, but no more than 30,000 euros in hryvnia equivalent. For all other enterprises, the maximum amount of grant support is 20%, but no more than 20,000 euros in hryvnia equivalent.
"According to our previous experience, the micro, small and medium-sized business (MSME) financing program from Savings and the German government is unique and therefore in great demand. During a full-scale war, this is a very important support for the competitiveness and stability of Ukrainian enterprises, which in turn contributes to the economic growth of the country. Thank you to the partners for continuing the program and again choosing Oschad for its implementation," noted of the board of Oschadbank, responsible for micro, small and medium-sized businesses.
