The Ministry of Economy together with USAID are launching a grant program for medium and large enterprises for $15 million, under which one business will be able to receive a grant from $250,000 to $2 million.

"Enterprises with an estimated minimum annual sales volume of $8 million in hryvnia equivalent are invited to participate in the program. This indicator is important due to the fact that the target sales increase as a result of the implementation of the concept should be at least $2 million," the Ministry of Economics said in a release.

It is indicated that program participants should use grant funding for business development, in particular, to increase sales, increase exports and create new jobs.

The condition for participation in the program is the investment of additional funds - the enterprise's own funds or other resources attracted by the enterprise. The selection of program participants will take place in two stages: the first - evaluation of concepts, the second - evaluation of detailed grant applications from participants who have passed the first stage. One of the criteria for evaluating concepts will be the number of jobs created.

It is clarified that concepts must be submitted no later than February 29, 2024. They are expected to be implemented within 12-24 months.