The Cabinet of Ministers has approved a resolution on signing an agreement with the European Union (EU) with a total budget of 20 million euros on financing EU4BUSINESS, a program to support small and medium-sized enterprises (SMEs) in Ukraine.
The government approved the relevant resolution on July 1.
According to an explanatory note to the draft resolution, posted on the government website, its approval creates legal prerequisites for the further conclusion of the EU4BUSINESS financing agreement.
Funding is provided as part of the EU assistance package for Ukraine in response to COVID-19 pandemic.
It is reported that the attraction of EU funding will be aimed at creating a sustainable business support policy and ecosystem at the national and local levels with a focus on SMEs.
According to the document, the agreement provides for the strengthening of sustainable entrepreneurship, competitiveness and internationalization of business by providing support to improve the process of development and implementation of economic policies by public authorities, for Ukraine to participate in pan-European business support programs and to strengthen the regulatory and operational framework for SMEs at the local level.
In addition, within the program, it is planned to promote priority projects to develop innovative measures to support business at local levels and innovative products/services/business models of SMEs, including the use of digital tools, as well as support for business integration and trade relations in the European and global market, manage strategic ties in clusters and improve the quality of the provision of consulting business services by intermediary organizations.
According to the draft resolution, the Cabinet of Ministers authorized Deputy Prime Minister for European and Euro-Atlantic Integration Olha Stefanyshyna to sign the agreement.
