Ukraine and Germany signed a declaration to strengthen cooperation in the field of entrepreneurship support
Kyiv • UNN
Ukraine and Germany signed a declaration on strengthening cooperation in the field of entrepreneurship support.
On June 11, in Berlin, the ministries of Finance of Ukraine and Germany signed a joint declaration that will contribute to further development of opportunities for institutional development and implementation of corporate reform. About it UNN reports with reference to the Ministry of Finance of Ukraine.
The ministers signed a joint declaration on "intentions to support capacity development for institutional development coordinated by the credit institution for reconstruction" (KfW).
The declaration provides for support to Ukraine in supervising and coordinating the activities of national development institutions and promoting development, strengthening the institutional capacity of the Ministry of Finance of Ukraine, with a particular focus on internal procedures and systems for Strategic Analysis and information management. It also provides consulting support to the Entrepreneurship Development Fund in the process of its institutional reform.
According to the Ministry of finance, the Entrepreneurship Development Fund is now a key institution to support Micro, Small and medium-sized businesses in Ukraine. Total business support, within all financial instruments of the FRP, is about UAH 321 billion, or EUR 7.7 billion (as of 01.01.2024).
"Support for small and medium-sized businesses is one of the priorities of the Government of Ukraine and is carried out thanks to the state program "affordable loans 5-7-9%". Expert and financial support from KfW allows us to continue providing Ukrainian businesses with affordable financing, which in turn contributes to the recovery of the country's economy in the context of a full-scale war of the Russian Federation, " said Finance Minister of Ukraine Serhiy Marchenko
As reported, since February 24, 2022, Germany has provided Ukraine with budget funding of more than 1.5 billion euros, 80% of which is grant funds. This was a significant contribution to maintaining the macro-financial stability of Ukraine.
Addition
German Finance Minister Christian Lindner confirmed Germany's readiness to continue supporting Ukraine, in particular in the country's reconstruction process.
"We are not limited to the form of support that Ukraine needs to win the war. We want to make our contribution now so that Ukraine can determine the course of future growth through its reconstruction," he said, quoted by the Guardian.
