10 May 2022

1 min

Press Releases

Western NIS Enterprise Fund Announces Relocated Enterprises Support Program

Western NIS Enterprise Fund (WNISEF) announces a new Ukrainian Relocated Enterprises Support Program. At the pilot phase of the Program, WNISEF has joined the martial law business support initiative of the Lviv Regional Military Administration (LRMA) and will double the amount of non-refundable financial assistance for businesses that relocate to the Lviv region.

“Since the start of full-scale Russia’s invasion of Ukraine, WNISEF kept on supporting SMEs in Ukraine. Ensuring the active operation of businesses, especially those that were forced to relocate to the western regions due to the threat of hostilities, is the key to economic recovery through job gains and tax payment, which is crucial for the functioning of the country during the war. Therefore, we are very pleased to contribute to the LRMA Business Support Program during the martial law term,” said Petro Kocherhan, WNISEF Relocated Business Support Program Coordinator.

As part of the program, WNISEF will provide up to $500,000 in non-refundable financial assistance to SMEs that have moved their operations from the war zone to the Lviv region. The program has minimized bureaucratic procedures, and for the very fact of formal re-registration of business activities in the Lviv region, the military administration and WNISEF will allocate separately 100,000 UAH of non-refundable financial assistance. Encouraging businesses to renew operations, WNISEF and LRMA pledged to double this amount to 200,000 UAH if SME creates 20 new jobs. The process of registration and selection of participants will be carried out by the LRMA Department of Economic Policy, which decision is the only requirement for SMEs to receive an additional grant from WNISEF.

More than a hundred relocated enterprises have already moved to the Lviv region, more than 50 of them have gone into action, mainly in the mechanical engineering, consumer industry, and metalworking sectors.

A number of relocated enterprises have already applied for this Program. As part of it, the Lviv Regional Military Administration plans to create more than 2.5 thousand new jobs in the region.

We encourage SMEs eligible for this Program to apply directly to the military administration. Moreover, WNISEF will consider further support for enterprises that will take part in the Program, including expertise, consulting, support at the international exhibitions, etc.

We believe that the rapid renewal of business operations will boost the recovery and growth of the Ukrainian economy.

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