Successful project to support Ukrainian enterprises has been completed
The project, funded by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), with the support of German Sparkassenstiftung for International Cooperation (DSIK) and in cooperation with the Business Development Fund (BDF), aims to support the reconstruction of Ukraine by providing micro, small and medium-sized enterprises (MSMEs) with access to investment capital and working capital. In addition, partner financial institutions were strengthened through targeted capacity building measures.
A total of 345 businesses were able to successfully implement their investment projects with a total value of over one billion UAH (approx. 29 million euros). Thanks to the grants awarded amounting to UAH 173 million (approx. EUR 3.8 million), a total of 10,757 jobs were secured. Dr. Michael Beck, project manager of DSIK, sums up: “Particular attention and support was given to companies operating in sectors that are important for Ukraine's economy: agriculture, processing industry and businesses that have been acutely affected by the war.”
In addition to financial support, the companies also received extensive consulting services, with the All-Ukrainian Association of Management Consultants CMC-Ukraine providing more than 3,500 hours of advisory support to MSMEs. In total, investments of around two billion UAH were supported during the project, demonstrating the ongoing demand for funding from businesses even in times of war.
This project, implemented as part of the international cooperation project ReACT4UA (“Utilization and implementation of the Association Agreement between the EU and Ukraine in the field of trade”), underlines the central role of MSMEs in Ukraine's economic resilience and sends a strong signal for the reconstruction of the country.
The knowledge gained will also be used and further developed for future project activities. Other projects of DSIK in Ukraine will continue to run as planned.