The government has launched a grant program for entrepreneurs willing to create or develop their recycling business. The state provides them with up to UAH 8 million in non-refundable aid for the implementation of production projects. 

Funding can be provided to private entrepreneurs or legal entities that:

• are not located and do not operate in the temporarily occupied territories as of the time of submitting the application;
• do not conduct economic activity in the territory of the russian federation;
• are not on the list of sanctioned persons;
• are not bankrupt, are not in the stage of bankruptcy;
• have ultimate beneficiaries who are citizens of Ukraine.

The first thousand applicants receive a grant in the amount of 70% of the project cost; for the next participants the state provides funds in the amount of up to 50% of the project cost; participants can also attract additional credit funds of up to UAH 16 million under the “5-7-9” program at 0% for 5 years. 

To join the program, an entrepreneur needs to develop a business plan and submit it together with the application and documents for verification of the operating enterprise through the Diia Portal. During 10 days, Oschadbank JSC assesses the business plan, checks the recipient’s business reputation and conducts an interview with the recipient. The decision to provide a grant is made by the Ministry of Economy based on the bank’s assessment. 

Funds are transferred to the applicant’s bank account for clearly defined purposes: acquisition of the main means of production, costs for their delivery and commissioning. The equipment is subjected to the alienation ban until the terms and conditions of the grant are fulfilled. In the event of the destruction of a recycling enterprise as a result of armed aggression of the russian federation, the state compensates the recipient for its own contribution in full.

According to the terms and conditions of the program, the participants are obliged to pay taxes, fees and single social contribution in the amount of the received funds and to create at least 25 jobs within 3 years after receiving the grant. If these requirements are not met, the recipient must independently refund the difference between the amount of the grant received and the payments actually effected.