The Ministry of Economy and the Western NIS Enterprise Fund have signed a Memorandum of Cooperation that provides for USD 100,000 to finance the Government’s Vlasna Sprava program under the Ministry of Economy’s eRobota project, which enables Ukrainians to receive microgrants to start or develop a business. The document was signed by First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko and President and CEO of the Western NIS Enterprise Fund Jaroslawa Zelinsky Johnson.

“Grants are one of the most effective tools to support businesses, especially now, during the war.  Last summer, the Government launched a number of grant programs, the most popular of which is the Vlasna Sprava program, under which Ukrainians can receive a microgrant of up to UAH 250,000 to start or develop their business. By providing financial support to micro and small businesses, we not only stimulate economic growth but also increase employment rate as entrepreneurs create new jobs. In particular, microgrant recipients created 8,000 jobs last year. We are thankful to our partners for contributing to the funding of the grant program, which will promote the development of entrepreneurship and accelerate Ukraine’s economic recovery,” said Yuliia Svyrydenko.

“Supporting the Vlasna Sprava program under the Ministry of Economy’s eRobota project is an important step for WNISEF in developing entrepreneurship in Ukraine. The microgrants will help people take the first step towards starting their own business and give additional opportunities for the development of innovative projects. I believe that our cooperation with the Ministry of Economy of Ukraine will be an impetus for change in the country’s economy and will contribute to the sustainable development of small and medium-sized businesses in Ukraine,” said President and CEO of the Western NIS Enterprise Fund Jaroslawa Zelinsky Johnson.

The Vlasna Sprava program offers the opportunity to receive a microgrant of UAH 50,000 to UAH 250,000 to start or develop your own business. A pre-condition to get the grant is creation of 1-2 new jobs, depending on the size of the grant. Both existing entrepreneurs and people with no experience can receive a microgrant. Grant applications can be submitted through the Diia portal.

Entrepreneurs can use the grant funds to purchase equipment, raw materials, supplies, rent premises and vehicles necessary for the implementation of their business project, purchase licensed software and pay for marketing and advertising services.

3,300 applicants received microgrants for a total of UAH 777 million under the Vlasna Sprava program in 2022. The budget for the program is UAH 1.8 billion for 2023, which will allow 10,000 microgrants to be awarded.

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Western NIS Enterprise Fund (WNISEF) is a USD 285 million regional fund, the first one in Ukraine and Moldova, founded with the funding from the U.S. Government through the U.S. Agency for International Development (USAID). The Fund has more than 29 years of experience in successfully investing in small and medium-sized businesses. The Fund’s total investments amount to USD 188 million in 136 companies employing around 26,000 people which enabled to attract USD 2.3 billion for companies in Ukraine and Moldova.

Since 2015, the Fund has been implementing a technical assistance program in Ukraine and Moldova for a total of USD 35 million, the main elements of which are export promotion, local economic development, social investment and economic leadership. WNISEF finances innovative and highly effective programs aimed at implementing reforms and changing the lives of ordinary people in Ukraine and Moldova. www.wnisef.org.