Western NIS Enterprise Fund Attracts New Funding of $135 Million to Support Economic Recovery in Ukraine and Moldova

KYIV, Ukraine, February 6, 2023 /PRNewswire/ - The Fund's Western NIS Enterprise Fund (WNISEF) today announced that it has received $135 million in new funding to help meet its critical needs and contribute to the economic recovery of Ukraine and Moldova (the Region). "We are proud to WNISEF’s longstanding track record within our Region, both in deploying a wide investment program by directly investing $188M in SMEs over nearly three decades as well disbursing technical aid funding of more than $50M since 2015 to promote exports and support local economic development. Finance impact investments, launch innovative economic leadership programmes, support early-stage start ups, and finance exports, said Dennis A. Johnson Chairman of WNISEF’s Board of Directors. This new funding is essential now, after the devastation, loss of lives, and suffering caused by the Kremlin’s complete invasion of Ukraine. In coordination with the U.S. government, additional resources will be available to support worthwhile initiatives such as those that help displaced workers and businesses, or municipalities, NGOs, businesses, to aid Ukraine's economic revival and rebound. Jaroslawa Z. Johnson (unrelated to Dennis A. Johnson) stated that "Small- and medium-sized businesses (SMEs), are an engine for growth both globally and increasingly in Ukraine and Moldova. We will resume our direct investment program with USAID's support and additional resources. This program focuses on seed capital to catalyze vital projects and continues to support early-stage IT start ups in Ukraine and Moldova. It also expands to include start-ups within the creative clusters and those that are focused on community initiatives launched by disadvantaged people. Ms. Johnson said that "WNISEF's Legacy Programs offer technical assistance focused on transforming ordinary people's lives in Ukraine and Moldova, as well as continuing to deliver impact and result throughout this unjust conflict." The Western NIS Enterprise Fund (WNISEF), a regional fund of $150 million, is a pioneer in Ukraine/Moldova with 29 years' experience in investing in small- and medium-sized businesses. WNISEF was created by the U.S. Agency for International Development. Through its direct investments program and sponsorship of Horizon Capital's launch in 2006, WNISEF invested $188m in 136 companies that employ over 26,000 people. In total, $2.3 billion in capital was unlocked for Ukrainian and Moldovan businesses. WNISEF launched a legacy program of $35 million in 2015 that focuses on economic leadership, local economic development and export promotion. The legacy program and investments are funded with additional capital through investment reflows, which further enhances its resources. WNISEF supports innovative, high-impact programs that aim to help Ukraine and Moldova in this crucial period. SOURCE Western NIS Enterprise Fund