The European Union has announced a new project competition to support small businesses in Ukraine and assist war-affected populations, with a total program capacity of €1.6 billion.
This was reported on the European Commission's website.
"The European Commission has launched a call for proposals under the Pillar II of the €50 billion Ukraine Facility. This call aims to enhance access to finance for small businesses in Ukraine, with a strong emphasis on supporting those affected by the war and vulnerable companies. By supporting small businesses and start-ups, this Call directly aligns with the Ukraine Facility Regulation’s commitment to dedicating at least 15% of the Ukraine Guarantee to this target group. To achieve this, the European Commission partners with International Financial Institutions (IFIs) and banks in Ukraine as intermediaries, ensuring that smaller businesses—especially those facing challenges in accessing finance—can benefit from the support."
The European Commission has launched a new Call for Projects aimed at driving support for businesses in areas affected by the war, as well as for war veterans, displaced persons, and refugees returning to Ukraine after fleeing the full-scale Russian invasion in 2022. The Commission is prioritizing grants for micro-enterprises, start-ups, and businesses led by women, youth, and people with disabilities, as well as small-scale farmers. In addition, the Commission is facilitating access to finance for the demining industry and supporting farmers and agribusinesses to take part in demining efforts.
This Call, with a total budget of EUR 1.6 billion in budgetary guarantees and blended finance grants, underscores the European Commission's commitment to rebuilding Ukraine’s economy and empowering its citizens. The deadline for applications is set for April 22.
The European Commission is seeking eligible implementing partners, particularly those under the Ukraine Facility Regulation, including international and European multilateral financial institutions such as the European Investment Bank Group, the European Bank for Reconstruction and Development, and the International Finance Corporation, among others. Entities interested in applying can contact these pillar-assessed partners or the relevant ministries and agencies in their countries for more details on how to participate.
