The Ukrainian government has increased support for businesses in the processing industry. Grants for companies whose production was affected by shelling have been raised to 16 million UAH, reports Baltimore Chronicle, citing Prime Minister Yulia Svyrydenko and the Diia press service. Applications for grants can be submitted online through the “Diia” portal. The funds are allocated for the purchase, delivery, and installation of new equipment.
According to updated rules, grants now cover up to 70% of the cost of equipment produced in Ukraine, up from 50% previously. Companies whose equipment was destroyed or damaged by Russian aggression will have 80% of their equipment costs covered by the government. The grant amount has doubled to 16 million UAH. Additionally, businesses are now allowed to submit a repeat application for a grant if the previous agreement’s conditions were met.
The Diia press service emphasizes that the maximum grant amount cannot exceed the damage caused. In the case of a repeat application, the grant amount will be reduced by the amount of the previous grant.
For processing enterprises, the list of expenses covered by grants has been expanded. It now includes funds for research to launch new products into serial production. Agricultural enterprises can now use the grant to purchase post-harvest processing equipment, provided they are registered in the State Agricultural Register and grow perennial crops.
To participate in the program, businesses must create at least five jobs and operate for a minimum of three years after receiving the grant. The decision on the application is made within one month.
Since the launch of the program to support the processing industry, over 6.2 billion UAH in investments have been attracted, and more than 20,000 jobs have been created.
Earlier we wrote that EU transfers 1.6 billion euros to Ukraine from frozen russian assets.