New $150 million fund investing in small businesses in Moldova and Ukraine
A joint venture between European and American finance organisations are set to inject a total of $150 million in funding to small and medium sized businesses in Ukraine and Moldova.
The fund, known as Emerging Europe Growth Fund |||, will be managed by Horizon Capital and comprises of Western NIS Enterprise, International Finance Corporation, The Overseas Private Investment Corporation and the European Bank for Reconstruction and Development.
The primary focus of the fund will be small to medium business that focus on exportation. It was noted that exports of Ukrainian products to Europe jumped nearly 25 percent in the first quarter of 2017 to $4 billion according to published data from Ukraine's Ministry of Trade and Development. Europe is the number one destination for Ukrainian made products.
CEO Jaroslawa Johnson of Western NIS Enterprise who are investing $30 million into the fund, stated that the primary targets for investment by the fund would be IT, light manufacturing, food and agriculture.
Ukraine's has long been regarded as having some of the most fertile farmland in Europe which still remains relatively undeveloped in comparison to its western counterparts.
Johnson stated that "the strategy is compelling from our perspective, seeking to capitalise on a surge in exports to the EU and other countries, investing in companies that derive a large part of their revenues in hard currency from foreign markets".
Fund managers Horizon Capital is well experienced in Ukraine and are already managing $700 million worth of investment.
8 July 2020Many municipalities in Ukraine have been delayed in sending out this year's land tax bills to owners due to Covid-19 so many properties have not received their statement. We have received updates from a number of municipalities that they are now in the pr
30 June 2020Many restrictions associated with Covid-19 have been eased in parts of Ukraine however, quarantine has been officially extended until 31st July. Travel to the country has also been opened up and further down we explain requirements for overseas visitors.
13 May 2020Are you thinking about buying an offplan apartment in Ukraine? It's often a good way to get a lower cost property as developers will usually provide a discount when compared to exisiting property prices to compensate for the wait time whilst the unit is b