Starting from September 2, microbusinesses from the affected regions of Ukraine can apply to Oschad for advice on EU4Business grants

On September 2, a new competition for a grant of the international program of the European Union and the German Government under the joint initiative “EU4Business: SME Recovery, Competitiveness and Internationalization” through the German government company GIZ will be launched with the participation of Oschadbank. At this stage, entrepreneurs from the regions most affected by the war can apply for assistance: Dnipropetrovsk, Donetsk, Zaporizhzhia, Kyiv (except Kyiv city), Luhansk, Mykolaiv, Sumy, Chernihiv, Kharkiv, Kherson and Odesa regions. They can receive microgrants of up to EUR 5,000 (equivalent) to restore their business.

A total of 100 microenterprises will be selected to receive assistance. Applications for grants will be accepted until September 30, 2024, on a special platform on the website of the Entrepreneurship Development Fund. Consultations on the program are available at Oschad branches. The bank will check the business reputation and credit history of applicants, conclude grant agreements, open accounts for disbursement of aid and monitor the intended use of funds.

“Ukrainian businesses are demonstrating miracles of resilience and commitment, but the ongoing war continues to drain the Ukrainian economy. Microbusinesses remain the most vulnerable to permanent challenges, and therefore need support on an ongoing basis. Oschadbank has considerable experience in participating in grant programs from the government and international partners, and we thank the organizers of these initiatives for their trust and cooperation,” said Natalia Butkova-Vitvitska, Oschadbank Management Board Member in charge of micro, small and medium-sized businesses (MSMEs).

As part of the first phase of the program, UAH 67 million in grants were issued in partnership with Oschad. A total of 464 entrepreneurs received approval of their grant applications. Businesses in Sumy, Vinnytsia and Lviv regions received the largest amount of assistance. The vast majority of grant recipients spent the money on purchasing equipment (66%) and materials and raw materials (28%). They are mainly engaged in manufacturing (115 entrepreneurs), restaurant and catering business (104 entrepreneurs), and medical services (57 entrepreneurs). 40 grantees have women among their founders.

The EU4Business: SME Recovery, Competitiveness and Internationalization grant program is funded by the German Government and the European Union with the participation of the German Development Cooperation GIZ (Deutsche Gesellschaft für Internationale Zusammenarbeit) GmbH in cooperation with the Entrepreneurship Development Fund.

In total, since the beginning of the full-scale war, the EU4Business program has held 6 grant competitions and provided more than €8 million to more than 1,000 Ukrainian enterprises.