'Energy Aid for Entrepreneurs' Program Launches
Ukraine's new 'Energy Aid for Entrepreneurs' program received 2,700 applications for non-refundable grants on its first day of operation. This initiative provides financial support of up to 15,000 hryvnias to sole proprietors (FOPs) in categories 2 and 3. The funds are intended for purchasing or repairing energy equipment, buying fuel for generators, and covering electricity costs. Applications are submitted online via the 'Diia' portal.
Currently, over 9,000 applications are being processed. Entrepreneurs operating in socially vital sectors who employ at least one staff member are eligible for grants ranging from 7,5 to 15 thousand hryvnias. The verification process is automated, and approved funds are deposited onto a Diia.Card through one of five partner banks:
- PrivatBank
- Sense Bank
- Credit Dnipro Bank
- A-Bank
- monobank
Program Goals and Broader Support
The 'Energy Aid for Entrepreneurs' program, which launched on February 2, aims to help small businesses maintain operations during widespread power outages. This support is part of a broader government effort to bolster economic resilience. Furthermore, micro, small, and medium-sized businesses can access preferential loans of up to 10 million hryvnias at 0% annual interest under the 'Affordable Loans 5-7-9' program, with repayment terms of up to three years.
It is also noted that applications for the 'LightHome' program opened on January 30. Together, these energy support initiatives are becoming crucial tools for Ukrainian entrepreneurs facing difficult circumstances.
The 'Energy Aid for Entrepreneurs' program represents a state-led initiative to support small and medium-sized businesses in Ukraine, particularly during crises linked to energy infrastructure challenges.
It enables business owners to adapt to environmental changes by providing financial assistance for energy-related expenses. The parallel rollout of programs like 'LightHome' underscores the government's commitment to sustaining business continuity amid the ongoing challenges the country faces.