Odesa approves 256 million for business support and recovery

Odesa plans to update the city's economic competitiveness program for 2022-2028, taking into account the conditions of martial law and the work of the military administration. The changes include funding for business support, investment projects, and the restoration of the city's economic activity.

The relevant decision was made by the Executive Committee of the Odesa City Council.

The Executive Committee submitted proposals to the military administration to amend the city's program for improving the competitiveness of the economy for 2022-2028. The need to adjust the document is explained by the new conditions of city governance during martial law, as well as the creation of the Odesa City Military Administration.

The updated program provides for clarification of measures, financing and development priorities. The total amount of funding for the program is more than UAH 226 million, the bulk of which is from the city budget.

One of the key areas is strategic planning for community development. In particular, in 2026, it is planned to develop a new development strategy for Odesa, create industrial parks and prepare relevant master plans.

The emphasis is on supporting small and medium-sized businesses. The program includes:

• financial assistance to entrepreneurs;
• compensation for war-related expenses (losses, damaged property);
• support for combatants and their families in starting a business;
• partial reimbursement of participation in exhibitions;
• grant and micro-grant support.

Separate funds have been allocated to ensure the operation of the invincibility points. Businesses will be reimbursed for the costs of generators, fuel, equipment maintenance, and even rent.

The program also includes funding for the restoration of businesses affected by the hostilities, as well as support for relocated businesses that have moved to Odesa.

Another area is the formation of the city's investment image. It is planned to prepare investment projects, cooperate with international partners, hold business forums, and raise the city's rating at the national and international levels.

The initiator of the changes was Andrii Rozov, Director of the City Council's Economic Development Department. According to him, in 2025, UAH 15 million was allocated for the program, UAH 12.8 million was financed, and the remaining UAH 2.2 million was returned to the budget. In general, the financial assistance program for small and medium-sized businesses was 100% funded.

Анна Бальчінос