11:02 19.06.2015

European Commission to provide EUR 55 mln of technical aid to Ukraine for SME

2 min read
European Commission to provide EUR 55 mln of technical aid to Ukraine for SME

The European Commission will provide EUR 55 million of technical aid develop small and medium-sized enterprises (SME) in 15 regions of Ukraine.

Economic Development and Trade Minister of Ukraine Aivaras Abromavicius and European Neighbourhood Policy and Enlargement Negotiations Commissioner Johannes Hahn signed the memorandum of understanding in Kyiv on Thursday.

"I'm sure that the driver of the economy in the near term and close outlook should be small and medium-sized enterprises. This is the most mobile and active part of businessmen," Abromavicius said during the signing of the memo.

The minister said that EUR 55 million will be used to open 15 centers for support of SME in Ukrainian regions. The centers will provide consultations to businessmen and help them to find new markets.

Abromavicius said that the today's memo is a first part of the program which could open an opportunity for receiving EUR 40 million from the SME loan guarantee facility by Ukraine and in the future the sum could be extended to EUR 1 billion.

"The tool is intended to help SME to use new trade opportunities and improve access to financing," Hahn said.

He said that taking into account the today's memo the total sum of EU grants to Ukraine only this year amounts to EUR 200 million.

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