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Economic Growth

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USAID Agriculture and Rural Development Support Project co-invested with VSESTO company to procure equipment for processing and storing cabbage and carrot, onion, marrow squash, beetroot, and other vegetables.
USAID Agriculture and Rural Development Support Project co-invested with VSESTO company to procure equipment for processing and storing cabbage and carrot, onion, marrow squash, beetroot, and other vegetables.
Vladyslav Sodel

After attaining independence in 1991, Ukraine undertook inconsistent reforms toward becoming an efficient market-based economy.  USAID supports a competitive economy in Ukraine in which small and medium-size businesses are free to achieve their potential. With USAID support, the Government of Ukraine recently achieved several milestones, including introducing an electronic disclosure and reporting system for publicly listed companies, creating institutions to facilitate transparent and efficient asset trading, and developing a bond market.

USAID works with Ukrainians to build a strong financial sector in Ukraine regulated by politically and financially independent entities, supported by industry best practices, integrated with international standards, and trusted by Ukraine’s citizens and the investor community.

USAID programs improve the business climate at the national and local levels to encourage domestic and foreign trade and investment. By streamlining laws and regulations that contribute to the cost of doing business, USAID fosters a competitive Ukrainian economy.

Current Programs:

FINANCIAL SECTOR:

Financial Sector Transformation Project (FST)
DAI Global LLC
October 28, 2016 - December 28, 2020

The Financial Sector Transformation Project (FST) is a four-year program whose primary focus is to develop and improve financial service delivery to meet the needs of citizens and businesses of all sizes. Working in partnership with the Government of Ukraine and its financial sector regulators, financial industry associations, civil society organizations and the private sector, FST seeks to:

  • Increase public confidence in and understanding and use of the banking system;
  • Support transformation of the financial sector legal and regulatory environment;
  • Increase access to finance for small and medium-sized enterprises;
  • Improve financial inclusion and expand digital finance solutions; and
  • Support a balanced and sustainable pension system.

Project activities will include technical assistance, legal and regulatory drafting, educational tours, training, and limited procurement of information and technology systems. It is anticipated that Ukrainian firms will serve as subcontractors to carry out some of these initiatives.

International Partnership for Financial Sector Stability
SEGURA Consulting LLC
December 19, 2015 – July 25, 2019

USAID’s Regional Economic Growth Project (REG) covers Albania, Armenia, Azerbaijan, Belarus, Bosnia & Herzegovina, Georgia, Kosovo, Macedonia, Moldova, Serbia, and Ukraine.  REG supports inclusive and sustainable economic growth in the E&E region by integrating and harmonizing regional markets. Core activities improve competitiveness and increase financial sector stability by advocating regional economic integration and building economic linkages to EU and other markets. REG provides a cost-effective platform for demand-driven technical assistance and teaches private sector skills and financial sector management and regulation best practices. In Ukraine, REG supports: 1) Strategic communications to rebuild trust in financial system; 2) Development of non-bank financial sector and alternative financing instruments; 3) More effective financial sector supervision and regulation; and 4) Digital finance technology and innovation to restore formal financial transactions in underserved areas.

Business Investments and Loans
Western NIS Enterprise Fund/Horizon Capital
September 21, 1994 – December 31, 2023

USAID created the Western NIS Enterprise Fund (WNISEF), a regional private equity fund for Ukraine and Moldova, in 1994, capitalizing it with $150 million. For two decades WNISEF invested in small and medium-sized companies in the region. In 2014, USAID directed remaining funds toward promoting policies and practices that support private sector development. The focus areas include economic leadership, local economic development, social investments, and export promotion.

PRIVATE SECTOR DEVELOPMENT:

Competitive Economy Program
Chemonics Int.
October 16, 2018 – October 15, 2023

Competitive Economy Program (CEP) advances a strong, diverse, and open Ukrainian economy by supporting business startups and small and medium-sized enterprises (SME) in becoming more competitive in domestic and international markets.  CEP’s principal objectives are: a better business enabling environment, support for new and innovative industries and firms, and export and trade promotion.   

Economic Resilience Activity
DAI Global
August 27, 2018 – August 26, 2023

The conflict in eastern Ukraine has disrupted critical market linkages, catalyzed the economic decline of previously dominant industries, and caused massive population disruption. ERA will support entrepreneurs and small- and medium-sized businesses in competitive sectors to mitigate the impacts of the conflict and reduce the region's reliance on oligarch-backed big businesses and trade with Russia. In the short-term, ERA will work with conflict-affected and vulnerable populations to help them rebuild their economic livelihoods. In the medium-term, ERA will work in select value chains and with innovative businesses to help them expand and find new markets. ERA’s long-term goal is to build confidence in the future of the eastern Ukrainian economy to stimulate entrepreneurship and investment in the region. ERA primary focus is on providing support to Luhansk and Donetsk oblasts, but will actively work to strengthen economic linkages between these two oblasts and the rest of the country.

Analytical Services in Support of the Economic Resilience Activity
Resonance Global
August 20, 2018 – August 19, 2023

The Analytical Services in Support of the Economic Resilience Activity supports the implementation of USAID’s Economic Resilience Activity (ERA) by providing the third-party monitoring and evaluation services to ensure that ERA is achieving measurable impact at scale. This activity supports USAID’s commitment to data-driven, evidence-based development and maximizing the impact of U.S. taxpayer assistance.

Competition Law and Policy for Ukraine (CLP)
U.S. Federal Trade Commission (FTC)
March 30, 2016 – December 31, 2019

The Competition Law and Policy for Ukraine Activity will advance competition policy and promote a better business enabling environment. The Federal Trade Commission (FTC) and the Department of Justice (DOJ) will provide technical assistance to Ukraine aimed at the development of sound competition policy and institutions, and will be directed primarily at building the capacity of the Anti-Monopoly Committee of Ukraine (AMCU) and the Ministry of Economic Development and Trade (MEDT).  Key to the activity are FTC and DOJ advisors placed in the AMCU to train and counsel Ukrainian case handlers.  Advisors will also work with MEDT and other agencies to assist in the development of competition policy.  Other elements of the program include training programs; cooperation with agencies in the target regions; AMCU staff member placement within the FTC; and support to local NGOs.

Last updated: August 13, 2019

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