Canada to allocate 30 mln Canadian dollars for Ukraine
This financial aid should stimulate small and medium-sized businesses
A meeting "Ukraine-Canada future outlook: free trade zone" took place in Kyiv. Canada intends to allocate 30 mln Canadian dollars for the development of small and medium-sized businesses in Ukraine, Ukranews.
It was stated by the Ambassador of Canada to Ukraine Roman Vashchuk. "We will involve 30 million Canadian dollars to support small and medium enterprises," he said.
Vashchuk also noted that Canada is also elaborating a project of local economic development in many regions of Ukraine. It was announced that Canada has decided to allocate Ukraine a grant of 200 thousand EUR to assist the National Council reform. The organizers of the meeting were the Ukrainian Union of Industrialists and Entrepreneurs, the Canadian-Ukrainian Chamber of Commerce and the Chamber of Commerce of Ukraine.
Recalling, the Canada-Ukraine Free Trade Agreement (CUFTA) announced by Prime Minister (2006-2015) Stephen Harper and Ukrainian Prime Minister Arseniy Yatsenyuk on July 14, 2015. The agreement is expected to grow the Canadian GDP by Can$29.2 million (US$22.9 million) and Ukraine's GDP by Can$18.6 million, according to evaluations by the Canadian government. Canada’s exports to Ukraine would increase by $41.2 million.
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