As part of the EU's €11 billion package supporting Ukraine, the European Commission has adopted a Special Measure for Private Sector Development and Approximation worth €70 million. This measure is a response to the urgent need to support the recovery and economic development in Ukraine. It will notably help SMEs across the regions of Ukraine, boosting jobs and growth. It will be complemented by a €40 million loan guarantee facility which will also ease access to finance for Ukrainian businesses.
European Neighbourhood Policy and Enlargement Negotiations Commissioner, Johannes Hahn, said: "The development of small and medium enterprises (SME) has a crucial role to play in creating growth and job opportunities. By supporting an enabling environment to invest, by providing business development services at regional level and by addressing some of the obstacles to SME development such as access to finance, the EU is contributing to economic recovery, in particular in the regions most affected by the need to integrate internally displaced persons”.
- Publication date
- 28 April 2015
- Directorate-General for Neighbourhood and Enlargement Negotiations