The German Society for Investment and Development (Deutsche Investitions- und Entwicklungsgesellschaft, DEG) will contribute $10 million to the investment fund for small and medium-sized enterprises in Ukraine, the German Embassy in Ukraine reported. The Emerging Europe Growth Fund III (EEGF III) will facilitate the access of small and medium-sized businesses in Ukraine to long-term financing, the press service of the German embassy reported.
“Through this participation Germany will strengthen its position as one of the most important countries investing in the Ukrainian economy. Germany’s participation is a signal for other private and institutional investors,” the embassy said. The diplomatic mission told that the fund invests in export-oriented industries, in particular, in IT, light industry, food industry, as well as enterprises of electronic commerce and health. The German embassy said that the financed fund primarily focuses on small and medium-sized enterprises that need capital for their own growth and, as experience shows, create a lot of new jobs. German diplomats added that there are intentions to raise the capital of the Emerging Europe Growth Fund III (EEGF III) to $150 million.
