€8B has been allocated to develop local businesses.

The head of the parliamentary committee on regional development, Olena Shulyak, said that every community will find advantages for itself in each component of the Ukraine Facility program, under which Ukraine will receive €50B from the EU until 2027 for its recovery needs. However, only the first two components are directly related to financing. Within the framework of the first component, territorial communities receive €1B for recovery, and €8B for business support within the second component.

“For this amount, an investment fund will be formed, from which projects for developing small and medium-sized businesses in territorial communities will be financed. The fund will be created and filled mostly with funds from international financial institutions,” Shulyak explained.

She said that for a business from a community to be eligible to join this investment fund, each community must first create conditions for business development in its territory.