18.12.2007
The competition “The best business project”

The RSA chairman assistant, BORYS ADAMOV, implemented the conference of the competitive committee in order to select investing projects for partial compensation from the region budget of credit interest rates, given by the banks in national currency. The committee was created by the order of RSA chairman in November 2006.

During the Regional program of small entrepreneurship development in the Donetsk region for 2007-2008 the competition “The best business project” was held. The aim of the contest is to provide with the financial support subjects of small and middle business with the help of partial paying off of the credit interest rates. In order to fulfill this there were 370 thousands hryvnjas allotted from the region budget.

  In order to facilitate the access of entrepreneurs to financial help from the region budget there was discussed a partial compensation of credit interest rates, given by the banks in national currency to select investing projects. In particular, compensations of interest rates are increased from 1 to 1.5 discount rates of the National Bank of Ukraine for the small business subjects; maximal term of credit receiving is increased from 3 to 5 years; maximal rate of the received credits is increased from two discount rates of the National Bank of Ukraine to 18% for middle business subjects and to 22% for small business subjects.

Organization of the contest committee work, reception of documents from candidates for contest participation, advertising, and also examination of business-plans were given to regional fund of Donetsk oblast entrepreneur support. On the 1st of December 2007 26 subjects of Economy in Donetsk, Horlivka, Makijivka, Shakhtars’k, Avdijivka, Dokuchajevs’k, Amrosijivs’k, Dobropils’kyj, Volnovas’kyj and Mar’yins’kyj districts asked fond for consultation.

Only five projects were fully prepared and corresponded to all requirements of Methodical recommendations, and these projects were considered by the contest committee. After the detailed acquaintance with the given business-projects the committee decided to support first of all those, which are oriented on the production and creating of new working places. In five days the participants of the contest will receive the committee’s decision concerning the partial compensation of interest rates from the region budget for their credits.