Help for business: government launches grants of up to UAH 16 million for recovery from shelling
7 July 17:55
On July 7, the Cabinet of Ministers of Ukraine approved an updated version of the program to support the processing industry, adding a new area – grants for business recovery after Russian shelling. This was reported by the Ministry of Economy, "Komersant Ukrainian" reports.
According to the government’s decision, companies will be able to receive up to UAH 16 million in compensation, but no more than the amount of documented losses. This is to cover the costs of purchasing, delivering and installing equipment.
As explained by Deputy Prime Minister and Minister of Economy Yulia Svyrydenko, massive shelling is significantly damaging Ukrainian industry – companies lose expensive equipment every day that needs to be quickly restored.
The project will be financed on a co-financing basis:
- 80% of the costs are covered by the state,
- 20% will be paid by the entrepreneur.
To receive the maximum possible amount of assistance, businesses must invest at least UAH 4 million of their own funds.
Micro, small, and medium-sized enterprises, as well as individual entrepreneurs working in the processing industry, can apply for grants. The program is also available to those who have already received other grants under this government initiative, provided that the total amount of funding does not exceed UAH 16 million.
Among the requirements for program participants:
- creation of at least five new jobs,
- refund of taxes and unified social contribution within three years,
- of which at least 20% is the unified social contribution from new jobs.
The program is part of the government’s efforts to support Ukrainian businesses and restore the economy in the wake of the war.
