The emphasis in Phase II of the SME Finance Facility is to stimulate local currency lending, especially for micro, small and medium-sized enterprises (MSMEs) in Ukraine that are not earning foreign currency and cannot afford the high costs of borrowing.
STAREP aims to help participating countries both to improve their frameworks for corporate financial reporting and to raise the capacity of local institutions to implement these frameworks effectively.
The project aims to support different forms of economic initiative, competitiveness and innovation at the local level, in order to promote inclusive development and expand employment opportunities.
The project supports the creation of employment opportunities, especially for women, through investment and non-financial support for rural SMEs, leading to increased rural job creation.
