ICC Joins SME Resilience Alliance for Ukraine
ICC has joined the SME Resilience Alliance for Ukraine and took part in the Alliance’s second meeting, on 29 October, 2024. Launched at the Ukraine Recovery Conference in Berlin in June, the Alliance aims to improve regulations, enhancing support, and increasing access to finance for SMEs to aid Ukraine’s recovery.
ICC Secretary General John W.H. Denton AO said:
“By joining the SME Resilience Alliance for Ukraine, ICC builds on its ongoing efforts to support small- and medium-sized enterprises through initiatives like the ICC Centre of Entrepreneurship, aiming to harness the power of the private sector to drive economic recovery and resilience in Ukraine.”
In addition to Ukraine, the Alliance currently comprises 12 countries, plus the European Union, as well as several international organisations and development finance institutions – including the EBRD, OECD, and the World Bank – all working together to strengthen the resilience of small- and medium-sized enterprises (SMEs) in Ukraine.
As a friend of the SME Resilience Alliance, ICC attended the second meeting, opened by Oleksii Sobolev, First Deputy Minister at the Ministry of Economy of Ukraine. In his speech, Mr Sobolev emphasised the vital role SMEs play in the country’s recovery. With SMEs accounting for more than 90% of all businesses in Ukraine, the Ukrainian government’s SME strategy for 2024-2027 aims to facilitate recovery and enhance human capital and entrepreneurial culture.
The SME Alliance for Ukraine aims to support the Ukrainian government’s efforts through three key areas: improving regulatory framework conditions, strengthening support institutions for SMEs and enhancing access to finance. Pursuing the goal of mobilising €7 billion for ongoing and new SME programmes, the Alliance has mapped relevant actors in Ukraine and abroad. This allows for the identification of regional as well as sectoral gaps and overlaps in support, and facilitates the linking of potential trading partners. Most SME beneficiaries in Ukraine operate in the agri-food sector, and a large share is owned by women.
Through its participation in the Alliance, ICC seeks to extend its ongoing efforts to strengthen Ukraine’s economy. ICC has previously been actively engaged in several key initiatives, including the Black Sea Grain Initiative, which has facilitated the export of nearly 33 million tonnes of grain.
Additionally, the ICC Centre of Entrepreneurship in Ukraine is working to empower Ukrainian SMEs and assist the re-skilling of internally displace people, notably women. ICC also maintains regular consultations with multilateral donors and individual contributors to explore strategies for economic reconstruction. This includes engaging with the Ukraine Donor Platform and its Business Advisory Council.
Through these initiatives and partnerships, ICC remains committed to supporting Ukraine’s economic recovery and fostering a sustainable business environment for SMEs.
