USAID, Ukrainian Economy Ministry launch $15-mln grant program for enterprises

MOSCOW. Dec 25 (Interfax) - The Ukrainian Economy Ministry jointly with the United States Agency for International Development (USAID) are launching a $15 million grant program for medium and large enterprises, under which one business will be able to receive a grant from $250,000 to $2 million.

"Businesses with minimum annual sales estimated at $8 million in hryvnia equivalent are invited to join in the program. This indicator is important because the target sales growth should reach at least $2 million after the concept is implemented," Ukrainian media quoted the Ukrainian Economy Ministry's statement as saying.

The program participants should use the grant funding for business development, in particular, to increase sales, exports and create new jobs, it said.

The condition for joining in the program is to invest additional funds from own funds of the enterprise or other resources drawn by the enterprise. The selection of the program participants will take place in two stages: the first stage involves the evaluation of concepts and the second stage includes the evaluation of detailed grant applications from the participants who passed the first stage. One of the criteria set for the evaluation of concepts will be the number of jobs created.

It is specified that concepts should be submitted no later than February 29, 2024. They are expected to be implemented within 12 to 24 months.