Looking at the growing interest of potential financial institutions in the crisis COVID-19, the project will have a positive impact on the development of export-oriented medium and small businesses, increase production capacity of the working sector and help preserve existing and new jobs in Ukraine.
Ukraine's transition to the market is accompanied by the formation and development of small businesses, whose task is to form and saturate the market with goods and services, promote competition and weaken monopolies, expand the number of jobs. The process of formation of small business in Ukraine began with the beginning of independence, but its functioning and development have some difficulties to this day.
"Additional funding to counter COVID-19 under the project of access to long-term funding" is planned to attract a loan from the IBRD in the amount of 100 million dollars to provide small and medium enterprises with access to long-term financing. This will lead in the future to an increase in the export potential to stimulate Ukraine's GDP growth in the face of falling economic activity in the world caused by COVID-19.
According to the Verkhovna Rada of Ukraine
