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Ukraine joins EU program on small business development

Xinhua, February 23, 2017 Adjust font size:

Ukraine on Wednesday ratified a deal with the European Union (EU) on joining the bloc's program on the development of small businesses, the Ukrainian parliament said.

The ratification of the agreement was backed by 226 lawmakers -- the minimum number required for passing the legislation, the parliament said in a statement.

Ukraine's participation in the program allows the country's small- and medium-sized enterprises raising funds and intangible resources from the EU to boost their competitiveness, the parliament said.

The program will pave the way for the Ukrainian enterprises to enter the EU market and attract European investment, it said.

The EU program for the Competitiveness of Enterprises and Small and Medium-sized Enterprises runs from 2014 to 2020 with a total budget of 2.3 billion euros (about 2.4 billion U.S. dollars). Endit