USAID provides $6 mln to 4 Ukrainian companies for increasing exports

MOSCOW. Nov 2 (Interfax) - The USAID Investment for Business Resilience Activity has concluded four agreements with Ukrainian companies to provide $6 million co-funding under the business growth support program, Ukrainian media said, citing the project press service.

"The program aims to support companies, which can quickly increase exports and sales and create jobs," the press service said.

The recipients include the Delta Food agro-industrial group (Gulyai-Pole trademark), which makes more than 90% of mayonnaise products on the Ukrainian market. The company received $1 million in funding to develop production of sauces in glass containers for exports to the Baltic countries and sale on the domestic market.

Uterm Ukraine, a leading domestic manufacturer of steel heating radiators based in Belaya Tserkov in the Kiev region, received $2 million to expand production after relocation. The company is expected to create over 250 jobs.

Suziria Group, which specializes in the production of pet products, also received $2 million to expand the network of manufacturing buildings. The company ordered new equipment and is preparing to launch a wet cat f0od factory with the project's money and a $4.5 loan from Oschadbank.

In turn, the Karat carpet manufacturer received $1 million from the project and attracted additional bank financing for the purchase of raw materials. This allowed it to retain 725 jobs, resume export exports and approach pre-crisis production levels.

The USAID Investments for Business Resilience (IBR) Activity is a five-year program implemented by DAI Global that supports systemic changes in the Ukrainian economy and increases the supply of financing available to Ukrainian businesses.