17:36 03.10.2017

IOM and KfW will provide fiscal aid to displaced residents for self-employment, business

2 min read
IOM and KfW will provide fiscal aid to displaced residents for self-employment, business

Some 2,000 people who suffered as a result of the conflict in the east of Ukraine will receive assistance from the International Organization for Migration (IOM) and the German government to develop self-employment and own business.

According to an Interfax-Ukraine correspondent, the IOM and the German development bank KfW, acting on behalf of the German government, have signed an agreement on the implementation of a two-year project that will help 2,000 people affected by the conflict in eastern Ukraine create or develop new opportunities for self-employment and self-sufficiency.

Chief of Mission at IOM Ukraine Thomas Lothar Weiss said that, according to the Ministry of Social Policy of Ukraine, there are about 1.6 million internally displaced persons in Ukraine, to whom, in particular, the IOM provides support. About 10,000 people have already received such assistance since the beginning of the conflict. Activities in this direction, according to him, are continuing.

Weiss said the matter concerns the issue of funds for doing business.

"We do not give money to beneficiaries," the IOM official said, noting that they provide instruments and opportunities to create start-ups or support the already existing business.

The matter concerns about EUR 5 million for 24 months. It is planned to conduct business trainings for about 3,000 beneficiaries and support about 2,000 beneficiaries with micro-grants, Weiss said.

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