In Ukraine, a pilot project for a factoring service has officially launched, developed by the State Enterprise "Prozorro.Sales" with the support of the Ministry of Economy of Ukraine.
This is mentioned in a statement from the Ministry of Economy.
This digital tool is part of the Strategy for the Development of Small and Medium Enterprises until 2027 and is designed to address the issue of cash flow gaps by providing businesses with alternative financing for their operational activities.
The factoring platform will enable entrepreneurs participating in public procurement to quickly access funds without collateral, significantly simplifying the process of obtaining financing.
Currently, the market volume of public procurement in Ukraine is estimated at 10–20 billion UAH per year, with factoring being an essential tool for at least 3–5%. In the future, the service is planned to be expanded to the private procurement market, which amounts to 11–23 billion UAH.
Among the project's partners are Oschadbank, PUMB, UGB, and Ukrposhta. The project is being implemented with expert support from the International Finance Corporation (IFC) and the Swiss State Secretariat for Economic Affairs (SECO).
Background. Earlier, Mind reported that the Cabinet of Ministers is proposing a new draft law on "Public Procurement".