By KYIV. Dec 14 (Interfax-Ukraine) – The United States Agency for International Development (USAID) has tripled grant support under the Competitive Economy in Ukraine program to $11 million, the Ministry of Economy reported on its website on Thursday.
It is noted that the decision was made taking into account the large number of applications and significant interest from enterprises in the processing industry.
The increase in funding will also approximately triple the number of grants to approximately 75.
It is clarified that grants will support businesses in production of innovative products, modernization of production, reduction of manual labor, import substitution and increasing exports to fill the niches previously occupied by Russian and Belarusian products, localizing the production of goods necessary for recovery.
USAID’s Competitive Economy in Ukraine program supports Ukrainian businesses to become more competitive in Ukraine’s domestic and international markets, helps develop a simplified and transparent business climate, and provides opportunities for Ukrainian companies to take advantage of international trade.
