Flag of Ukraine

Economic Growth

Language: English | Ukrainian

Since independence, Ukraine has undertaken sporadic, uneven reforms in building an efficient market-based economy that serves the public good. USAID continues to support the development of a business friendly environment that encourages small and medium-size business development. With USAID support, the Government of Ukraine recently achieved several milestones, including introducing an electronic disclosure and reporting system of publically listed companies, creating institutions to facilitate transparent and efficient asset trading, and development of bond market.

USAID works to build a strong financial sector in Ukraine that is regulated by politically and financially independent entities, supported by industry best practices, integrated with international standards, and trusted by Ukraine’s citizens and the investor community.

USAID programs are helping improve the business climate at the national and local levels to encourage both domestic and foreign investment. By streamlining laws and regulations that determine the cost of doing business, USAID enables local businesses to compete in both domestic and international markets.

Current Programs

Commercial Law Reform Project
Commercial Law Center
October 16, 2011 – October 15, 2015

The USAID Commercial Law Reform project is helping the Government of Ukraine draft laws and secondary legislation related to public-private partnerships, taxation, bankruptcy, registration of companies, and other areas critical to economic development. CLC was launched in 2003 as a legacy of previous USAID activities that helped the Government of Ukraine develop modern legislation and market-oriented policies to replace Soviet-style laws and outdated command economy regulations.

Business Investments and Loans
Western NIS Enterprise Fund/Horizon Capital
September 21, 1994 – August 26, 2016

The Western NIS Enterprise Fund (WNISEF) is an investment fund capitalized with $150 million by the U.S. Government in 1994 to promote expansion of a wide array of private enterprises in Ukraine, Moldova and Belarus. The Fund provides capital and management tools for its companies. Since its inception the Fund has invested a total of $168 million in 118 companies in the region, employing 25,700 people and training hundreds of local managers in finance, accounting, marketing, rules and management.

Financial Sector Development Program II (FINREP II)
October 1, 2012 – September 30, 2017

The purpose of FINREP-II is to increase financial sector stability and restore public trust in financial markets.  The project has three broad objectives: 1) strengthen supervision and regulation of the financial industry; 2) develop financial and derivatives markets; and, 3) increase financial literacy of the general population.

Municipal Finance Strengthening Initiative (MFSI-II) Roll-Out
Institute for Budgetary and Socio-Economic Research (IBSER)
September 30, 2011 – February 28, 2017

The purpose of the activity is to promote efficient and transparent implementation of local budgets to foster local social and economic development. MFSI-II will advance the following objectives: 1) provide legislative, methodological and organizational support to central and local government bodies to expand Performance Program Budgeting (PPB) to all local budgets in Ukraine; 2) build the capacity of 15 selected cities to develop and implement multi-year development strategies, including the introduction of financial practices that foster energy efficiency; and 3) enhance public awareness and understanding of the public budgeting process, revenues and expenditures.

Public-Private Partnerships Development Program
FHI Development 360
October 1, 2010 – September 30, 2015

The Public-Private Partnership (PPP) Development Program promotes PPPs as a model of collaboration, with a focus on private sector funding and operational expertise to improve infrastructure and public services in both urban and rural areas. Program activities are centered on: 1) legal and institutional reforms; 2) establishing a national public-private partnership within unit that connects government and private sector interests; 3) training government and private sector representatives on Public-Private Partnership project design and implementation, and informing the public on the PPPs potential impact for social and economic development; and 4) developing and implementing 10 PPP pilot projects.

Supporting Urgent Reforms to Better Ukraine’s Business Environment (SURE)
Center for International Private Enterprise (CIPE)
September 26, 2014 – September 25, 2015

Supporting Urgent Reforms to Fight Corruption and Improve the Business Environment in Ukraine (SURE) is a one-year activity that will support the introduction and implementation of urgently needed reforms to improve the business climate for Ukraine's small and medium-sized enterprises (SMEs). The activity will leverage a Ukrainian and international partner network and other assets to provide technical expertise on anti-corruption and pro-SME policy reforms to the Ukrainian government at the national and sub-national levels, including through the existing Reanimation Reform Package initiated by Ukraine's civil society. The activity will also provide direct support to the Ukrainian government to implement these reforms, and build capacity and links among Ukrainian business associations, think tanks, and other civil society groups to ensure their engagement in effective advocacy in the longer term.

Local Capacity Development Program
Peace Corps
July 18, 2013 – September 30, 2017

Through a partnership between USAID/Ukraine and Peace Corps Ukraine (PCU), Local Capacity Development Program (LCDP) will bring experienced Peace Corps Volunteers and place them with USAID’s local non-governmental organization (NGO) implementing partners for a two year period to give those NGOs the opportunity to strengthen their organizational capacity. With support from Peace Corps Volunteers, local NGOs will assess their organizational capacity, identify areas for improvement, and receive additional training to address capacity building needs. Local partners will increase their organizational capacity to engage in the implementation of high quality development work with donors in general and USAID in particular. LCDP is designed to advance both Peace Corps Ukraine Community Development Project objectives and the USAID objective to directly engage local organizations in the implementation of their development work.

Financial Management Capacity Development Initiative (FMCDI)
Implementer: Financial Markets International, Inc. (FMI)
September 26, 2014 – September 25, 2016

To give local partners in Ukraine, Moldova and Belarus the financial and operational capabilities to manage awards and implement programs funded by USAID and other donors, FMCDI enhances the quality and range of audit and consulting services available to local organizations.

The long/mid-term impacts of this award include:1) closer interaction between regional missions and local implementing partners, many of which face institutional capacity challenges; 2) stronger relationships between regional missions and local non-government partners; 3) a sustainable mechanism for building capacity of local organizations; and 4) increased range and quality of financial management services available on the local market.

Leadership in Economic Governance (LEG/LEV)
East Europe Foundation (EEF), in partnership with the Institute for Economic Research and Policy Consulting (IER), CASE Ukraine (CASE) and the Kyiv Economics Institute under the Kyiv School of Economics (KEI)
December 19, 2014 – December 18, 2019

The Leadership in Economic Governance activity seeks to improve the country’s business enabling environment by identifying local organizations with recognized technical proficiency and knowledge and then strengthening their capacity to identify and correct policy weaknesses and motivate concrete institutional reform. The activity has three objectives: 1) identify legal, regulatory and administrative measures that improve the business environment for Ukrainian small and medium enterprises (SME); 2) support central and local governments in developing, promoting and implementing effective pro-SME reforms; and, 3) coordinate with and support stakeholders in the business community to advocate for economically sound and fiscally responsible reforms.

Last updated: August 13, 2015

Share This Page