EFSE bolsters support for Ukrainian Greentech and SME businesses
28/11/2022
On 24 November, the European Fund for Southeast Europe Development Facility (EFSE DF) and the Green for Growth Fund Technical Assistance Facility (GGF TAF) jointly committed €900,000 in grants to cover the equity and working capital needs of green techs and small and medium enterprises (SMEs) in Ukraine. The funding is intended to sustain business continuity and safeguard business resilience and viability.
The technical assistance project, which is part of the ‘Stand with Ukraine’ programme set up by EFSE, GGF and the funds’ advisor, Finance in Motion, aims to support at least 20 businesses that were able to remain operational following Russia’s invasion in February 2022. This includes businesses forced to relocate within or outside Ukraine’s borders and require assistance to pursue their business operations.
Targeted businesses include SMEs with up to 250 employees. They provide solutions in the renewable energy, energy efficiency, and resource efficiency sectors.
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