The Ministry of Finance, JICA, and the Business Development Fund outline prospects for supporting small and medium-sized enterprises

Today, on January 22, Deputy Minister of Finance of Ukraine for European Integration Yuriy Draganchuk met with representatives of the Japan International Cooperation Agency (JICA) and the Business Development Fund (BDF).

The parties discussed prospects for financial and technical cooperation aimed at supporting small and medium-sized enterprises (SMEs) in Ukraine, as well as possible instruments for implementing future joint initiatives.

“Support for small and medium-sized enterprises is a key element of Ukraine’s financial stability and economic recovery. The launch of such cooperation with JICA opens opportunities to attract modern financial instruments and international expertise that can provide Ukrainian entrepreneurs with an additional impetus for development even in times of war,” said Deputy Minister of Finance of Ukraine Yuriy Draganchuk.

He also expressed gratitude to the Government of Japan and the Japan International Cooperation Agency (JICA) for their reliable partnership and consistent support for Ukraine and its citizens during the war.

During the meeting, JICA presented its overall approach to financial cooperation, including the potential launch of lending programmes or the establishment of specialised funds in Ukraine. Particular attention was paid to combining financial instruments with technical assistance, strengthening institutional capacity, and supporting innovative projects.

JICA representatives also expressed interest in considering the BDF as a potential partner for the implementation of specific financial instruments and the further development of business support programmes.

“The Business Development Fund has practical experience in implementing financial programmes for businesses and is ready to engage in new formats of international cooperation. We view this interaction as an opportunity to create effective mechanisms to support entrepreneurs and stimulate innovation,” said Andrii Hapon, Chairperson of the Management Board of the Business Development Fund.

The parties also focused on opportunities to attract Japanese investment for Ukraine’s economic recovery, as well as on combining financial instruments with technical and advisory support.

Among the potential areas of cooperation under consideration are:
– long-term financing combined with grant support;
– development of guarantee instruments for businesses;
– investment grants for small and medium-sized enterprises;
– introduction of new financial mechanisms, including venture financing.

The final parameters of potential programmes will be determined based on further analysis and research. Following the meeting, the parties will work towards concrete solutions and next steps within the framework of potential financial and technical cooperation.

The Ministry of Finance of Ukraine continues to work with international partners to mobilise resources to support entrepreneurship and the recovery of Ukraine’s economy.