The European Bank for Reconstruction and Development (EBRD) will assist with relocation of about 80 Ukrainian small and medium-sized enterprises (SMEs) from the areas most affected by Russia's invasion with EUR 2.4 million in support from Switzerland and the United States.

According to the EBRD on Monday, the assistance will be channeled through the EBRD's Small Business Impact Fund and enterprises that have relocated to safer regions will have their costs reimbursed.

According to the report, around 80 Ukrainian companies will up to EUR 30,000 each in reimbursed expenses, that have not been previously reimbursed by other organisations including for: the transportation of equipment, raw materials and products; equipment packing, dismantling, calibration, reparation, rent, leasing and purchasing; premises: up to one month's rent, engineering or reparation/construction works for equipment storage and production premises.

"SMEs are key contributors to job and value creation in Ukraine, accounting for around 82 per cent of employment and 64 per cent of value added as a share of GDP, according to the Organisation for Economic Co-operation and Development," the EBRD said in the report.

It also states, citing Advanter Group data, that companies lost $64-85 billion in destroyed assets and disrupted markets in the first 75 days of the war alone.