News agency 'Vchasno'

UNDP Financed 223 Business Ideas of Donbas Entrepreneurs

Since 2015, 223 entrepreneurs from the Donetsk and Luhansk regions received grants from UNDP. Since the beginning of this year, the organization financed 39 business ideas from the eastern region.

In one of the last stages of the UNDP grant competition, 800 applications were submitted with business plans from entrepreneurs of the Donetsk and Luhansk regions, UNDP regional coordinator Ivan Mukomel told NA «Vchasno» reporters.

Out of this number of applications 240 were admitted for consideration. After the selection by the commission, 39 projects received funding and a new block of contracts will be signed with another 13 participants on February 21.

At each competitive stage, up to a thousand applications from entrepreneurs are submitted.

"The selection is strict and very thorough. The main thing is that the idea is viable and sustainable in time," says Ivan Mukomel.

Thus, international donors supported the development of machine-building, sewing and coffee business in Donbas, the production of 3-D printers, ceramic products, farms and other business ideas.

One of the main conditions envisaged by the UNDP program is the creation of jobs. Since 2015, as part of receiving grants only in the Donetsk region, an opportunity to employ 880 people has appeared.

For three years, 223 entrepreneurs from the eastern region received financial support for business development from UNDP.