
Western NIS Enterprise Fund receives new funding of $135 million to support economic recovery in Moldova and Ukraine.
Specifically, the funds are intended to enhance Western NIS Enterprise Fund's (WNISEF) ability to meet immediate needs and continue its contribution to the recovery of the Ukrainian and Moldovan economies. "We are proud of WNISEF's longstanding track record in our Region, both in deploying a broad investment program by directly investing $188 million in SMEs for nearly three decades, as well as disbursing technical assistance funding of over $50 million since 2015 to promote exports, support local economic development, finance impact investments and launch innovative economic leadership programs, as well as support early-stage start-ups," said WNISEF Board Chairman Dennis A. Joh. "With the destruction, loss of life, and mass suffering resulting from the Kremlin's full-fledged invasion of Ukraine, this new funding is needed now more than ever. Additional resources will support worthy initiatives, including those focused on helping displaced businesses and workers, and on supporting municipalities, NGOs, businesses, and other organizations to contribute to Ukraine's economic revitalization and rebound, in coordination with the U.S. and Ukrainian governments. Moldovan enterprises also require our continued support as Moldova has taken in more Ukrainian refugees per capita than any other country, with the country impacted severely by rising energy and living costs," said Dennis A. Johnson. Western NIS Enterprise Fund (WNISEF) is a $150 million regional fund, a pioneer in Ukraine and Moldova with a 29-year track record of successfully investing in small and medium-sized companies. WNISEF is funded by the United States Government through the United States Agency for International Development (USAID). Through its Horizon Capital private equity and startup sponsorship program, WNISEF invested $188 million in 136 companies employing more than 26,000 people in 2006, and unlocked $2.3 billion in total capital for Ukrainian and Moldovan companies. In 2015, WNISEF launched a $35 million program focused on export promotion, local economic development, investment impact, and economic leadership. The investment flows provide additional capital to fund investments and programs, thereby increasing its resources. WNISEF funds innovative and high-impact programs to support Ukraine and Moldova during this critical period. // 06.02.2023 – InfoMarket