Promoting the resilience and growth of small and medium-sized enterprises

Context

The Ukrainian economy is facing a crisis: After being hit hard by the COVID-19 pandemic, Russia’s invasion since 2022 has fundamentally worsened the country’s economic situation, especially for small and medium-sized enterprises (SMEs). This includes the fact that economic infrastructure has been destroyed and skilled labour has fled. Investments in the country are associated with high risks.

However, new economic opportunities have emerged from the country’s status as an EU accession candidate and the Association Agreement between Ukraine and the European Union (EU), which represents stronger economic ties, among other things.

Objective

SMEs in Ukraine are resilient and contribute to sustainable reconstruction through innovation and exports.

Approach

The project supports SMEs in business networks in all Ukrainian-controlled areas. It organises measures that promote skills in municipal business development and innovation projects. In specialist forums, training courses, individual consultations and international exchange programmes, entrepreneurs can learn new tools and modern business approaches.

Through grants and subsidised loans, the project helps Ukrainian companies to maintain their business activities during the war, build resilience and receive support through investments. With a large grant from ReACT4UA to UNPD, and from UNDP to 20 city communities, they may restore the local Ukrainian economic infrastructure.

This project also helps Ukrainian companies enter the EU market. To this end, it supports relevant authorities with technical and legal preparations for the Agreement on Conformity Assessment and Acceptance of Industrial Products (ACAA). The agreement facilitates the import of Ukrainian goods into the European market. Companies can also present their products internationally at trade fairs.

Last update: November 2023