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Germany to allocate $ 10 million for development of Ukrainian enterprises
14:31, 14 August 2017
Germany to allocate $ 10 million for development of Ukrainian enterprises

Emerging Europe Growth Fund III will facilitate the access to long-term financing for small and medium businesses in Ukraine

14:31, 14 August 2017

Open source

German Investment and Development Association (DEG) will contribute 10 million dollars to the investment fund for small and medium enterprises in Ukraine. This was announced by German embassy in Ukraine on Monday, Interfax-Ukraine reports.

It is noted that Emerging Europe Growth Fund III will facilitate the access to long-term financing for small and medium businesses in Ukraine.

"By this participation Germany strengthens its position as one of the most important countries for foreign investments in the Ukrainian economy. The participation of Germany is a signal for other private and institutional investors," the embassy said.

Related: EU Council extends ban on investment to Crimea

The fund invests in export-oriented industries, in particular, IT, light and food industries, as well as enterprises of electronic commerce and health, according to the embassy.

German diplomats added that there is an intention to increase the capital of Emerging Europe Growth Fund III (EEGF III) to 150 million dollars.

As it was reported earlier Germany threatened to react on US anti-Russian sanctions. German Federal Ministry for Economic Affairs and Energy will react in case if sanctions impact country’s companies.

Related: Poroshenko discuss more active attractive investment with World Bank President

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