Project description:

In 2022, small regional entrepreneurs faced serious difficulties, including a lack of access to loans due to the challenges of the war. The number of jobs has significantly decreased, especially with IDPs in the region. Consequently, tax payments to local budgets decreased, which in its turn led to a lack of funds to fill community food banks that are used for vulnerable groups, veterans, and military personnel.  

In November 2022 Astarta launched the project ‘Heading towards the Independence’ to support regional entrepreneurs, local communities, and vulnerable groups. The project includes:

• focus on the agro and food industries
• 3 months of training
• up to €20 000 on equipment to develop own business
• expert support
• transfer of 10% of the cost of the equipment in the form of produced goods to the food bank of their community
• creation of 3 job places
• official employment and payment of taxes.

Results : 

• 2 waves of the project
• 730 applications from 7 regions of Ukraine received
• 170 grants (up to EUR 20 000) for equipment to develop own business provided 
• 647 new job places created for vulnerable groups
• 89 342 people received food assistance
• SROI: 1 euro = 4.66 (independent assessment of the social impact for the first wave of the project)

Partners:

Federal Ministry for Economic Cooperation and Development (BMZ);  German Development Bank DEG; CO “Believe in Yourself”

Category: Prosperity

Company: Agri-industrial holding “Astarta-Kyiv”

About the company: 

Astarta is a vertically integrated agri-industrial holding in Ukraine, a public European company. It produces food products with a focus on national and global markets. Its main business activity is concentrated in crop production, sugar industry, dairy farming, soybean processing, grain logistics, and bioenergy.