Ukraine and Germany to form alliance supporting small and medium-sized businesses

Ukraine's Ministry of Finance reported the information.

During the Ukraine Recovery Conference (URC2024) in Berlin, Ukraine and Germany announced the Vision: BDF 2.0 initiative, aimed at transforming the BDF into the SME Resilience Alliance (an alliance for small and medium-sized enterprises).

The initiative includes a three-stage plan:

• Transform the BDF into an independent institution, reform its corporate governance, and establish a supervisory board.
• Achieve EU compliance status for the BDF, enabling it to receive direct funding from the EU.
• Launch the BDF into capital markets to attract private investor funds.

Germany will support the BDF's management and operations. The project will involve comprehensive institutional development, including a review of the Fund's mandate, business model, and corporate governance. The project's results will be incorporated into new legislation, which the Verkhovna Rada will consider in 2024.

• On Tuesday, June 11, German Chancellor Olaf Scholz reviewed economic and trade relations with Ukraine, noting the country’s strong economic potential.