The call for project proposals for the third stage of Ukraine Recovery Program finished: communities filed 543 applications, as reported by the Ministry of Community and Territorial Development (source: Ukrinform).
It notes, “235 communities have applied for the program with the support of the European Investment Bank, while the aggregate amount of projects made up 19.27 billion UAH”.
However, over 50% of submitted applications deal with the replacement of communal networks in communities. Another third are healthcare projects. There were also 20 proposals for housing projects for internally displaced Ukrainians.
Most of the project proposals were received from Lviv, Odesa, Kyiv, Cherkasy, Poltava, and Dnipro regions.
As reported, after the deadline the applications will be assessed by regional military administrations and a rating list will be compiled.
The projects will be implemented via the DREAM reconstruction management ecosystem which automates project selection and monitoring.
As reported, the call for applications for the third stage of the Ukraine Recovery Program started in early January. The program budget makes up 100 million EUR.
The €200 million Emergency Credit Facility for Recovery of Ukraine and The €340 million Recovery Program are two framework loan agreements between the EIB and Ukraine signed in 2014 and 2020 respectively. Both agreements are aimed to enable local governments to rebuild social infrastructure and to improve the living conditions of internally displaced persons (IDPs) and their host communities. Reconstruction projects are fully managed by local governments.
The post-war recovery of Ukraine is a huge challenge. Still, it also opens up new opportunities for European companies and investors and can become a trigger for the growth of the entire European economy.
Andriy Sybiga, the Minister of Foreign Affairs of Ukraine, expressed such an opinion at the panel discussion on EU enlargement at the World Economic Forum in Davos, as reported by Ukrinform correspondent.
The Ukrainian official said, “Another aspect I would like to raise is the restoration of Ukraine. This is likely to be the project of the century. I think it will also be a trigger for the European economy. It will open up new opportunities for the European economy and European companies. Now we are talking about incurred losses amounting to ca. 600 billion (USD – ed.), just at this stage. We face huge challenges, but we have also huge opportunities. If we combine our efforts, we will make this part of the world much safer”.
Martha Kos, the European Commissioner for Enlargement, who also took part in the panel discussion, emphasized the importance of strengthening democracy and the rule of law in order to attract investors to invest both in the recovery of Ukraine and the economic development of the whole of Europe.
She noted, “Solidarity and the rule of law are very crucial in this geopolitical situation. We always start conversations with the rule of law. Its observance will attract investors and will mean that they will not go all over the world, which also carries certain risks today, but will be closer to Europe. Therefore, development of the rule of law will also be important for the economies of our countries”.
As reported, the World Economic Forum is taking place in Davos with the leading world politicians and representatives of the business community involved. The delegates are discussing the most vital issues of global development and ways to solve them.
In a recent statement, former U.S. President Donald Trump identified Ukraine—specifically Odessa—as a prime location for real estate development
From hotel ventures to large-scale construction, Trump believes that Ukraine presents lucrative opportunities for investors looking to expand their portfolios in emerging markets.
Odessa in the Spotlight
During an autumn conversation with Ukrainian President Volodymyr Zelensky, Trump mentioned Odessa as a standout city for hotel investments, according to a report by the Wall Street Journal. Trump’s endorsement underscores the city’s strategic position as a port hub on the Black Sea, which could attract growing numbers of tourists and business travelers in the coming years.
Gaza Strip: A Potential “Middle Eastern Riviera”?
Interestingly, Trump also suggested a real estate development idea to Israeli Prime Minister Benjamin Netanyahu: building hotels in the Gaza Strip. According to members of Trump’s team, the vision includes transforming Gaza into a “Middle Eastern Riviera,” offering enhanced opportunities and financial prospects for local Palestinians.
US Envoy Steve Witkoff stated that Trump aims for transparency with the Palestinians, highlighting that improving living conditions and economic prospects in the region aligns with broader peace efforts. Witkoff noted that Gaza could become uninhabitable in the next 10–15 years without significant investment and infrastructure improvements.
What This Means for Investors
Emerging Markets: Both Odessa and the Gaza Strip represent frontiers for hospitality and real estate development. Despite political complexities, early involvement may yield high returns.
Strategic Port Locations: Odessa’s status as a key Black Sea port could drive tourism and commerce, making it a magnet for international investors.
Political Will and Support: Trump’s vocal support, as well as backing from political leaders in the region, signals potential momentum for infrastructure upgrades and policy incentives.
Key Takeaways
Odessa: Trump highlights it as a prime opportunity for hotel investments in Ukraine.
Gaza Strip: Long-term vision to develop hotels, turning it into a “Middle Eastern Riviera” for improved economic growth and living standards.
Investor Outlook: While political and security factors remain crucial to consider, these regions may offer significant long-term potential for the real estate sector.
For those looking to diversify their portfolio and venture into new real estate markets, both Odessa and the Gaza Strip could become high-reward investments—if approached with careful due diligence and an eye on geopolitical developments.
Important notification: Considering the high level of interest and the needs in Ukraine, SECO has decided to increase the total contribution of this call for proposals to up to CHF 100 million (from CHF 50 million).
In June, 2024, the Federal Council decided to better involve the Swiss private sector in Ukraine’s recovery and reconstruction. Based on their expertise, Swiss companies can make an important contribution to Ukraine’s reconstruction process. Within the framework of the Call for Proposals, Switzerland supports projects from Swiss companies with a legal entity in Ukraine, aligned with the needs of Ukraine linked to recovery and reconstruction.
The new total contribution for this call is up to CHF 100 million. Individual financial contributions for selected projects still range from CHF 1 million to CHF 15 million. All the detailed information on the process, timelines, selection criteria, etc. can be found in the «Documents» below.
The «Main Document Call for Proposal Ukraine – Version 2» has been uploaded under the «Documents» section on 17.03.2025, replacing the original version published on 30.01.2025. The changes in this Version 2 exclusively relate to the increase in the budget and its implications, particularly the adaptation of deadlines and dates.
All changes made within this «Main Document Call for Proposal Ukraine – Version 2» compared to the «Main Document Call for Proposal Ukraine» uploaded on 30.01.2025 are marked in red color. All eligibility and award criteria (Annex 1) and other Annexes listed on the website under the section «Documents» remain unchanged during the re-submission period.
As the deadline for submitting applications under the Call for Proposals has been re-opened from 17.03.2025 to 31.03.2025 (23:59 CET), Eligible companies that have not participated during the first submission period can submit their project proposals.
Resubmissionis not required: The already submitted proposal will remain valid and will be evaluated based on the original version if no updated submission is made before the new deadline.
Please note: Applicants who have already submitted an application have the possibility to make modifications and/or additions. In this case, the changed and/or new passages shall be marked in yellow within the document, and newly uploaded documents within already submitted applications shall have a filename starting with «NEW».
Only new/modified documents need to be re-uploaded. The original documents that were replaced by the new documents are thus no longer considered in the evaluation. It is the full responsibility of the applicant that the modifications are clearly recognizable in yellow. If this is not the case, the original version uploaded between 30.01.2025 – 28.02.2025 will be taken into consideration for evaluation.
To submit new/modified documents, you have to create a new account within the profile environment on the website.
If you wish to withdraw an application, please do so in writing a letter and uploading it within the profile environment.
The Call for Proposals is re-opened from 17 of March until 31 of March (23:59 CET) to submit projects. Submissions received after the deadline will not be considered.
Please note: SECO will not answer questions individually during the application process. Questions and answers to the Call for Proposals were published anonymously and publicly on this Webpage under the section «Documents» on 14 of February 2025.
During the re-submission period, questions can be formulated through the contact form from 17.03.2025 – 20.03.2025 (23:59 CET). Answers will be published by 25.03.2025 under the section «Documents» on the website. Questions which have been answered during the first Q&A-session will not be answered again (see document “Q&A Call for Proposals SECO 14.02.2025”). Questions not submitted through the contact form will not be answered.
These funds will be directed to key sectors of the economy where Swiss businesses are active.
Ukraine and Switzerland have signed a Memorandum of Understanding, under which the Swiss government will allocate 55 million USD to finance recovery projects via local companies. These funds will be directed to key sectors of the economy where Swiss businesses are active, as reported by the press service of the Ministry of Economy on January 23.
Details:
The Swiss State Secretariat for Economic Affairs (SECO) will provide funding. Project selection will start in late January 2025, and implementation of the first initiatives will begin in July 2025. The Government of Ukraine, SECO, and the Embassy of Switzerland will participate in the selection process.
The memorandum creates the basis for further signing an intergovernmental agreement on technical and financial cooperation, as reported by the Ministry of Economy. The agreement will cover launching public projects from the Unified Public Investment Portfolio approved by the Strategic Investment Council.
Context:
Switzerland is launching programs to support Ukraine in decentralization, recovery, joint projects with Ukrzaliznytsia, and preparation for the heating season.
In April, the Swiss Federal Council decided to allocate 5 billion CHF (equal to 5.5 billion USD) for humanitarian aid, economic development, and long-term recovery of Ukraine until 2036.
Assistance will be implemented step by step: 1.5 billion CHF will be allocated for international cooperation till 2028, while in 2029-2036 the government will explore other sources of funding to allocate the remaining 3.5 billion CHF.
On 12 February in Bern, the Swiss Federal Council adopted the Cooperation Programme with Ukraine for 2025-2028. It will be the first stage of a long-term 12-year support programme for Ukraine’s recovery, reforms and sustainable development. Under this programme, CHF 1.5 billion will be allocated for economic recovery, protection of civilians and strengthening of institutions.
“The Swiss Government declared its readiness to provide long-term support to Ukraine back in April 2024, announcing the allocation of CHF 5 billion over the next 12 years. The approved Support Programme for 2025-2028 is only the first stage of implementation of the intergovernmental agreements. In 2029-2036, the Swiss side will provide another CHF 3.5 billion for Ukraine,” said Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine.
The cooperation programme between Switzerland and Ukraine for 2025-2028 focuses on three main areas:
Economic recovery, including support for small and medium-sized enterprises (SMEs), agricultural development and infrastructure reconstruction, including in regions affected by the hostilities.
Modernisation of public services, including healthcare and education, public transport, energy and water supply.
Protection of civilians, including humanitarian demining, documentation of war crimes, assistance in the search for missing persons and strengthening of human rights mechanisms.
To ensure the successful implementation of the Programme, Switzerland will cooperate with Ukrainian government agencies, the private sector, academic institutions and NGOs. It is planned that one third of the Programme’s budget – about CHF 500 million – will be spent on rebuilding Ukraine in cooperation with Swiss companies. During the World Economic Forum in Davos, Ukraine and Switzerland signed a memorandum on the first CHF 50 million that Switzerland intends to allocate for its companies to support projects in Ukraine. Applications from businesses are now being accepted. Implementation of the selected projects is scheduled for July 2025.
Join EY Law Denmark and EY Law Ukraine on February 25, 2025 for an insightful online webinar on the opportunities and challenges of doing business in Ukraine.
This webinar will be particularly engaging for Danish businesses looking to enter the Ukrainian market or expand their existing operations, and Danish investment bankers seeking insights into investment opportunities and trends in Ukraine.
Webinar topics and speakers include:
Peder A. Larsen, Associated Director, The Export and Investment Fund of Denmark (EIFO): “Overview of the Danish governmental program supporting investments in Ukraine” moderated by Susanne Scott Levinsen, Partner, Country and Transaction Law Leader, EY Law Denmark;
Troels Libak Stollberg, Vice President and Head of Legal & Compliance for Carlsberg’s CEE and India Region, Carlsberg Group : “Insights from Danish businesses with firsthand experience in the Ukrainian market” moderated by Bogdan Malniev, Partner, Tax&Law practice, EY Law Ukraine;
Bogdan Malniev, Partner, and Olena Dreval, Director, Tax&Law practice, EY Law Ukraine: “Understanding the Ukrainian legal framework and strategies for market entry during wartime”;
Borys Lobovyk, Partner, Law Leader, and Olena Dreval, Director, Tax&Law practice, EY Law Ukraine, Ninel Lugivska, General Manager, 3Shape Ukraine: “Key sectors of interest for investors: IT and energy”;
An interactive Q&A session to address your queries.
Date and time: February 25, 2025, from 10:00 to 11:30 (Kyiv time) / 9:00 to 10:30 (Copenhagen time).
Format: online.
Duration: 1.5 hours.
This webcast is free of charge but requires prior registration.
In a recent statement, former U.S. President Donald Trump identified Ukraine—specifically Odessa—as a prime location for real estate development
From hotel ventures to large-scale construction, Trump believes that Ukraine presents lucrative opportunities for investors looking to expand their portfolios in emerging markets.
Odessa in the Spotlight
During an autumn conversation with Ukrainian President Volodymyr Zelensky, Trump mentioned Odessa as a standout city for hotel investments, according to a report by the Wall Street Journal. Trump’s endorsement underscores the city’s strategic position as a port hub on the Black Sea, which could attract growing numbers of tourists and business travelers in the coming years.
Gaza Strip: A Potential “Middle Eastern Riviera”?
Interestingly, Trump also suggested a real estate development idea to Israeli Prime Minister Benjamin Netanyahu: building hotels in the Gaza Strip. According to members of Trump’s team, the vision includes transforming Gaza into a “Middle Eastern Riviera,” offering enhanced opportunities and financial prospects for local Palestinians.
US Envoy Steve Witkoff stated that Trump aims for transparency with the Palestinians, highlighting that improving living conditions and economic prospects in the region aligns with broader peace efforts. Witkoff noted that Gaza could become uninhabitable in the next 10–15 years without significant investment and infrastructure improvements.
What This Means for Investors
Emerging Markets: Both Odessa and the Gaza Strip represent frontiers for hospitality and real estate development. Despite political complexities, early involvement may yield high returns.
Strategic Port Locations: Odessa’s status as a key Black Sea port could drive tourism and commerce, making it a magnet for international investors.
Political Will and Support: Trump’s vocal support, as well as backing from political leaders in the region, signals potential momentum for infrastructure upgrades and policy incentives.
Key Takeaways
Odessa: Trump highlights it as a prime opportunity for hotel investments in Ukraine.
Gaza Strip: Long-term vision to develop hotels, turning it into a “Middle Eastern Riviera” for improved economic growth and living standards.
Investor Outlook: While political and security factors remain crucial to consider, these regions may offer significant long-term potential for the real estate sector.
For those looking to diversify their portfolio and venture into new real estate markets, both Odessa and the Gaza Strip could become high-reward investments—if approached with careful due diligence and an eye on geopolitical developments.
Nearly two hectares of land near Odesa Commercial Sea Port have been allocated for an industrial park.
Ukrinform reports it has been disclosed during the Odesa Economic Revival Forum.
Odessa Mayor Gennady Trukhanov noted that now it is important to attract investments in the development of the city’s economic potential.
First of all, it concerns port infrastructure, since Odesa is of strategic importance for global food security.
The city authorities have already identified territories for the development of industrial parks. One of them is located next to the port and is its only development territory: it only needs to bring up the infrastructure.
The mayor noted, “This is an industrial park and a priority development zone. We studied the experience of our European partners, looked at it, and made such a model for our region. We are allocating nearly 2 hectares of land so that business entities may see what can be built here. Near the port, there are all the conditions for business development”. Hereby we remind that an industrial park will be built based on the UDSC Ship Repair Yard. The project upon the creation of a modern industrial park in Kiliya was presented at the Ukraine Recovery Conference (URC2024) in Berlin.
The Ministry of Economy of Ukraine spoke about key work trends and ways to overcome challenges caused by the full-scale invasion of the Russian Federation, at the forum “Economic Policy of Ukraine: Recovery in the Wartime” held on September 16, 2024.
Yulia Svyrydenko, First Deputy Prime Minister – Minister of Economy of Ukraine, noted at the presentation, “One of the key tasks of the Government is to maintain the GDP growth rate and to achieve economic self-sufficiency. Therefore, we are moving towards our strategic goals: attracting investment in the real sector, increasing non-raw material exports, changing the complexity of the economy by increasing the share of processing in GDP, and improving the situation in the labor market. For each of these priorities, we have a very clear set of tools that work to achieve these goals”.
She noted, that today, the priorities of the Ministry of Economy include the digitalization of state services in order to facilitate business work.
Yulia Svyrydenko says, “This week, we are starting work on digitizing state services via eDozvil service. Since September 18, the first digital service in this framework has been available for entrepreneurs, and their number will only grow in the future. In particular, since October, it will be possible via eDozvil to obtain a conclusion that gives the right to extend the deadline for settlements for export and import transactions. This is what business has long been waiting for and asking for”.Oleksiy Sobolev, First Deputy Minister of Economy, presented at the forum the Strategy for Restoration of Small and Medium-Sized Enterprises (SMEs) by 2027. The document approved by the Government defines key directions of state policy in SMEs, including restoration of destroyed enterprises based on the build-back better principle. Special attention has been drawn to green transition, digital transformation, innovative development, and business inclusiveness, namely: engagement of women, people with disabilities, internally displaced persons (IDPs), and veterans. The document complies with the OECD recommendations, complies with the content of the Association Agreement between Ukraine and the EU, as well as complies with the Plan for the Ukraine Facility.
Oleksiy Sobolev noted, “Support for SMEs is one of the key priorities of the Ministry of Economy and the state as a whole. The principal task of the Strategy is to facilitate conditions for the development of SMEs and to give partners an understanding of where to invest now and after the end of the war. The new strategy is inclusive and will promote the business activity of women, people with disabilities, and veterans. It is coordinated with businesses, the public sector, and experts. It has already been supported by our international partners. Now we have the result: we launched the SME Resilience Alliance in cooperation with Germany”.
Stefan Kossoff, Director of Development Programs at the British Embassy in Ukraine, highlighted, “Small and medium-sized businesses have shown extraordinary resilience in difficult times. Ukrainian businesses are still operating, entering new markets, and seeking investment opportunities. We are glad to be involved in creating the Strategy since it is a holistic and practical approach to business recovery. The UK remains committed to supporting the Government of Ukraine in reforming SME policy to better meet the needs of businesses and promote inclusivity and innovation. Practical support for inclusive policies is also important, therefore, we have launched in the framework of the Good Governance Fund project Zrostai 2.0 educational program for women looking to start or scale their business or to learn a new profession”.
Teodora Dell, Deputy Director of the USAID Mission in Ukraine, mentioned, “USAID has a long history of supporting small and medium-sized enterprises in Ukraine. We do this by helping the Government of Ukraine to improve the business environment by expanding access to finance, attracting joint investments to increase efficiency, and organizing trade missions to find new markets. Overall, USAID has supported over 28,000 small and medium-sized enterprises in key sectors across Ukraine. Jointly with our partners at UKAid, we are proud to have supported the launch of digital platforms, such as the Pulse and eDozvil, which will help make business registration and feedback from government services simpler and more transparent, making it easier for thousands of SMEs to do business every year”.
Oleksandr Tsybort, Deputy Minister of Economy for Digital Development, Transformations, and Digitalization presented the work of digital platforms for business.
He said, “Our task is to minimize the human factor wherever possible by digitizing bureaucratic processes and automating tasks, in particular, by integrating artificial intelligence into government services. We believe that everything that can be done online should be digitized. This will help us to mitigate corruption risks and to increase the efficiency of government services. Meantime, it is important to support the institutional capacity of state authorities by providing thereto convenient tools for big data analysis and decision-making”.
Oleksandr Tsybort noted also, “The Ministry of Economy is not just a regulatory ministry, we provide services for business. Over one-half of the Ministry’s officers are involved in processing applications. The center of any service should be the client, in our case, the entrepreneur, around whom the service is formed. Our goal is to facilitate a convenient and open process for business: a few clicks – and the service is provided. Both the Pulse and eDozvil projects are steps towards a digital state with transparent communications between business and government”.
He noted that the Pulse platform has been created in order to strengthen interaction between the state and business. Any entrepreneur can use it for feedback on the work of state authorities: vote for problems that need to be solved by state authorities in the first place, evaluate their work, or ask for help in solving problems if any arise. The platform should broadcast the voice of business and become an applied tool that will allow entrepreneurs to actively influence decision-making by state authorities.
For reference: The Pulse platform was developed through the Supporting Digital Transformation project with support by USAID and UK Dev. The project partner is the Office of Effective Regulation (BRDO). The creation and support of this platform for its further development have become possible due to the generous support of the American people through the United States Agency for International Development (USAID). Its content is the sole responsibility of the Ministry of Economy of Ukraine and does not always reflect the views of USAID or the US Government. This platform was created with financial support from the International Development Assistance Program of the UK Government. However, the expressed views do not always reflect the UK official policy.
eDozvil project is being implemented by the Ministry of Economy of Ukraine in partnership with the Ministry of Digital Transformation of Ukraine, funded by the EU in the framework of the EU4DigitalUA project implemented by FIIAPP. Advisory support for the development of regulatory acts for the system has been provided by EU4Business: SME Policies and Institutions Support (SMEPIS) project implemented by Ecorys in a consortium with GIZ, BRDO, and Civitta with financial support from the European Union. Technical requirements for the second stage were developed with the support of the EBRD. The project Support to Digital Transformation, funded by USAID and UK Dev, provides the full cycle of launching eDozvil. Partner upon implementation is the Office of Effective Regulation of BRDO. The principal beneficiary of the eDozvil system from the government is the Ministry of Economy of Ukraine. eDozvil system has been created, inter Elia, in accordance with the Action Plan for Implementation of the State Anti-Corruption Program for 2023-2025 and is a Component I of the Plan for the Ukraine Facility. SME Recovery Strategy till 2027 has been developed with expert support engaged in the framework of the Good Governance Fund Project Business Revitalization for Sustainable Growth funded by the UK International Development from the UK Government. The project has been implemented by Abt Global and the Kyiv School of Economics.
