Ministry of Economy of Ukraine
eRobota: 555 grant applications for processing companies approved
09.10.2023 | 14:23 | Section for Public and Mass Media Relations
555 applications from processing entrepreneurs for business development grants were approved. The state has already invested more than UAH 2 billion in the development of the processing industry through grants. This was announced by the Deputy Minister of Economy of Ukraine Nadiia Bihun.
"The development of the processing industry is one of the Government's strategic priorities. We need to produce more high-quality finished products to meet the needs of consumers in the domestic and foreign markets. That is why we have launched a grant programme to encourage the establishment and expansion of processing plants. To date, the state has already invested more than UAH 2 billion in the form of grants. A total of 555 processing entrepreneurs have been approved for grants. A quarter of them had no previous experience in the field. This means that the grant programme will support the opening of more than 100 new enterprises or assist existing ones in entering the field of processing and manufacturing products with a high added value share," said Nadiia Bihun.
The highest number of approved development grant applications were received by processing companies operating in the Kyiv (26%), Lviv (14%) and Dnipro (8%) oblasts.
Under the New Level Grant Programme for Processing Enterprises, entrepreneurs can receive a grant of up to UAH 8 million for business development. The grant is provided on the condition of co-financing with the beneficiary in the ratio of 50/50, i.e. the beneficiary must invest 50% of their own funds in their business and 50% of the funds are provided by the state in the form of a grant. For enterprises operating in the de-occupied areas, the co-financing ratio is 20/80, i.e. 20% of the funds are invested by the entrepreneur and 80% by the State.
The grant is conditional on the creation of new jobs, in particular up to 25 jobs.
Both existing entrepreneurs and people with no business experience can apply for a grant. Applications are to be submitted via the Diia portal.
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