Ukrainian small and medium-sized businesses will receive €7B in international aid.

Last week, the first meeting of the Small and Medium Business (SME) Sustainability Alliance, created in June during URC-2024 with the participation of Ukraine, 12 other countries and 17 development institutions, took place in Kyiv.

“Over the next four years, the total assistance for Ukrainian SMEs will amount to about €7B. Of this, €3.9B will be allocated as part of the Ukraine Facility program,” the Ministry of Economy reported.

At the meeting, the alliance’s main goals were determined: support for SMEs following the priorities of the Ukrainian government; effective coordination among donors to support the private sector; dialogue between partners and the government regarding reforms, economic policy, and support for SMEs; and monitoring and ensuring the implementation of the SME Recovery Strategy until 2027.

It is noted that the alliance will also contribute to reforming the SME support policy, form stable institutions that will attract financing, provide insurance instruments, and implement support programs through Ukrainian banks.