Ukraine is in an extremely difficult situation. The war has not only claimed countless lives, but has also severely damaged the country's economic infrastructure. In order to stabilize the country and secure its future, a strong and resilient BusinessIn this context, the Federal Ministry for Economic Cooperation and Development (BMZ) launched a significant initiative.
The importance of a strong economy for Ukraine
The economic Strengthening Ukraine is essential to meet the current challenges of the war and to advance reconstruction work. The focus is on supporting small and medium-sized enterprises (SMEs). These companies are the backbone of the Ukrainian economy and can make a decisive contribution to creating jobs and promoting economic growth.
The #Ukraine needs a strong economy to survive the war and rebuild what has been destroyed. To this end, we have developed a #SMEAlliance was founded. One goal: A national Ukrainian development institution for #SME to be developed following the example of KfW.
https://t.co/Cpdt2gxSZ3— Svenja Schulze (@SvenjaSchulze68) June 12, 2024
The founding of the #SME Alliance
In order to provide sustainable support to the Ukrainian economy, the BMZ has founded the #SME Alliance together with international partners. This alliance aims to create a national Ukrainian development institution modeled on the KfW (Kreditanstalt für Wiederaufbau). reconstruction). KfW is one of the world's leading development banks and has played a decisive role in economic reconstruction in many countries.
The planned Ukrainian development institution will be specifically responsible for supporting small and medium-sized enterprises. It will aim to provide loans on favorable terms, create investment incentives, and offer advisory services and other business support. These measures are intended to ensure that Ukrainian SMEs receive the necessary resources and know-how to expand their business activities and contribute to the country's economic stability.
International cooperation as the key to success
The creation of the #SME Alliance and the establishment of a national development institution are part of a broader approach based on international cooperation. The Alliance brings together partners from different countries and institutions, including the European Union, development banks and bilateral aid organizations. This cooperation is intended to ensure that support for Ukrainian SMEs is effective and sustainable.
"Ukraine needs our support, not only in the military but also in the economic sphere," emphasises German Development Minister Svenja Schulze. "The establishment of this alliance and the support of small and medium-sized enterprises are crucial steps to strengthen Ukraine's economic resilience and lay the foundation for successful reconstruction."
Conclusion
The initiative of the Federal Ministry for Economic Cooperation and Development to establish a #SME alliance and to develop a Ukrainian development institution based on the KfW model represents an important step in supporting Ukraine. Through targeted support for small and medium-sized enterprises, the country's economic base can be strengthened and the urgently needed reconstruction can be promoted. International cooperation and sustainable support are the key factors for the long-term success of this initiative.
Source: nachrichten.ag
