Unemployed Ukrainians to receive one-time benefit to start businesses

Source : 112 Ukraine

The relevant law came into force in Ukraine today
15:06, 26 November 2020

National Bank

Unemployed Ukrainians will be paid money so they can launch their own business. The relevant law came into force in Ukraine today.

The document amends the Law “On Amendments to the Law “On the State Budget for 2020” to enable the financing of expenditures the Fund of Compulsory State Social Insurance for the state employment service in case of unemployment.

These funds will be used to pay a one-time unemployment benefit for the organization of business activities and conduct payment for social services.

Related: Verkhovna Rada supports Ukrainian govt's anti-corruption strategy

As we reported earlier, Prime Minister Denys Shmygal stated that the Cabinet of Ministers had approved the launch of a program to support small and medium-sized businesses.

"The government has supported the launch of another support program - portfolio guarantees on loans to small and medium-sized businesses that will be provided by the state. We are talking about an additional five billion hryvnias (176 million dollars), which will be used to reduce the cost of loans for even more companies," the statement said.

Related: Ukrainian govt develops programs to support citizens, businesses during ongoing lockdown

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