USAID will help insure war risks for small and medium-sized enterprises

The USAID project Investments for Business Resilience has begun accepting grant applications from financial intermediaries interested in developing insurance tools against war risks for micro, small, and medium-sized enterprises (MSMEs), as stated in the press release. The total budget for the grant programme is $1 million.

Key Points:

• According to the announcement, these grants will be used to reduce the cost of insurance products for end policyholders.
• The aim of the grant programme is to develop Ukraine's insurance market and enhance MSME resilience to war risks through innovative insurance products. It is expected that these initiatives will enable businesses to mitigate risks associated with investment projects, particularly those related to loss or damage of property due to aggression from Russia.
• Additionally, this can help MSMEs attract additional financing, create new jobs, and increase sales volumes. Legal entities registered in Ukraine with sufficient financial and operational resources to support the development of MSME insurance against war risks are invited to participate in the programme.
• The grant projects are expected to be implemented over the next 1-2 years.
• The deadline for submitting grant applications is July 15th.

The USAID project Investments for Business Resilience (IBR) is a five-year programme implemented by DAI Global LLC. It supports systemic changes in Ukraine's economy and increases the availability of financing for Ukrainian businesses.

The project's goal is to transform Ukraine's financial sector into a well-functioning and competitive market that meets EU standards and integrates into international financial systems, while providing financing to enterprises to ensure sustainable economic growth in Ukraine.