Grants of Up to €100,000 Now Available for Entrepreneurs in Kryvyi Rih: Program Details Revealed.

Funding Opportunity for Ukrainian Business Owners

According to Novyny.live: Entrepreneurs based in Kryvyi Rih can now apply for grants worth up to €100,000 to expand their businesses, thanks to a new initiative backed by the Luxembourg government. This financial support is intended for roughly 300 local business owners, with a total funding pool of 52.4 million Ukrainian hryvnias allocated to the region.

Grant Amounts and Eligibility Criteria

How much funding is available? Medium-sized enterprises can receive a maximum of €100,000, small businesses are eligible for up to €50,000, and micro-enterprises can secure up to €10,000. It is crucial to note that applicants must provide a co-financing contribution: at least 20% of the project cost for small businesses and 30% for medium-sized ones.

What can the grants be used for? Funding ranges from €10,000 to €100,000 and can be allocated to:

• ongoing business development
• full operational recovery
• scaling up existing operations

Oleksandr Vilkul, head of the Kryvyi Rih Defense Council, stated: 'These funds are permitted for use in current development, complete restoration, or expanding one's own business.'

How to apply? New entrepreneurs can register through the charitable platform until June 30. Additionally, it is worth noting that the United Nations Refugee Agency offers cash assistance ranging from 10,800 to 12,300 hryvnias per family member. Details on eligibility and application procedures are provided by Novyny.LIVE.

This initiative aims to support Ukrainian business owners during challenging times and foster economic growth within the region.

Grants from the Luxembourg government represent a significant step in backing Ukraine's economic recovery, especially amid ongoing war and financial instability. By attracting foreign funding, this program not only aids individual entrepreneurs but also strengthens the broader business ecosystem in the area, creating new jobs and development opportunities. It further highlights international solidarity with Ukraine during a critical period.