EU disburses 1 bln euros in 2024 for lowing investment risk in Ukraine - Economy Ministry

MOSCOW. April 19 (Interfax) - The Steering Board of the Ukraine Investment Framework, established by the EU on April 17 as part of Ukraine Facility, has disbursed over 1 billion euros to lower the risk of investment in Ukraine, mostly by small and medium-sized enterprises, via international financial institutions and banks, Ukrainian Deputy Economy Minister Alexei Sobolev said.

"This means there will be enough funding for the development of small and medium-sized enterprises this year," Ukrainian media quoted Sobolev as saying at the Ukraine's Future Summit in Brussels on April 18.

Sobolev called for intensifying trade and creating joint ventures with Ukrainian companies, as the said mechanism will provide leverage and additional guarantees.

"Owning to the Ukraine Plan and Ukraine Facility, you will have funding to expand your business in Ukraine, and what we need right now will be available. This year it will be provided through Ukrainian banks and international financial institutions, namely, the EBRD, the EIB, the IFC, and the KfW," he said.

The programs involve about 20 Ukrainian banks, Sobolev said.

"In fact, you can contact your bank in Ukraine and get additional funding for your companies," he said.