Russia’s full-scale invasion of Ukraine has disrupted lives, destroyed infrastructure and placed enormous pressure on businesses across the country. Yet even in these extraordinary circumstances, Ukrainian entrepreneurs continue to demonstrate remarkable resilience – adapting, rebuilding and finding new paths to growth.
Since 2019, the European Bank for Reconstruction and Development (EBRD) and the European Union as part of its EU4Business Initiative have been helping Ukrainian companies access vital financing through the EU4Business-EBRD Credit Line. The programme enables small and medium-sized enterprises to modernise equipment, improve production efficiency and strengthen their competitiveness, helping them sustain jobs and keep the economy moving.
Today, the programme is placing special emphasis on supporting veteran-led companies and businesses rebuilding after wartime losses, ensuring that those most affected by the war have the opportunity to recover and grow.
The stories of Peanut Butter TOM and Vivat Invest illustrate how this support is translating into real impact across Ukraine.
A taste of resilience in Lviv
Ukraine is home to more than 1.2 million war veterans. Among them is Taras Fityo, co-owner of the Lviv-based snack manufacturer Peanut Butter TOM.
The company produces popular peanut-butter- and chocolate-based snacks that combine strong flavour, high-quality ingredients and nutritional value – qualities that have helped the brand build a loyal customer base.
Founded in 2012, the business quickly grew into one of Ukraine’s leading snack producers, with products sold online and in major supermarket chains across the country. Their treats are designed to be both nutritious and easy to store – a crucial advantage during wartime disruptions.
“Our secret is simple: we use only the best ingredients and never compromise on quality,” says Fityo.
“For us, business is more than just work or supporting our families. It’s a chance to make a real difference – by developing the Ukrainian market, promoting healthy snacks and contributing to the country’s economy.”
Despite the ongoing war, the company decided to expand its production capacity.
Through a loan from Bank Lviv supported by the EBRD, combined with a 25 per cent EU investment incentive under the EU4Business-EBRD Credit Line, Peanut Butter TOM invested in a modern chocolate-processing machine.
The new equipment increased production capacity to 200 kilograms per hour, enabling the company to meet rising demand while improving efficiency.
The investment also reduced energy consumption by 24 per cent, lowering both operating costs and the company’s environmental footprint.
“Our team is like a family united by shared values,” Fityo says. “These investments allow us not only to bring bold ideas to life, but also to preserve natural quality and experiment with new flavours. With the new equipment we have already optimised our processes and improved efficiency, creating a strong foundation for future growth.”
Rebuilding business in Zaporizhzhia
Another example of resilience comes from Vivat Invest, a construction company based in Zaporizhzhia.
Over 15 years, the firm had built a strong reputation and employed nearly 100 workers. But when the war reached the region, the company faced the risk of losing much of its business.
Rather than closing operations entirely, Vivat Invest relocated part of its activities to western Ukraine while continuing to operate in its home city.
With a loan from the EBRD through Ukrgasbank, supported by a 25 per cent EU investment incentive, the company was able to purchase new construction vehicles to replace lost assets and resume its work.
The new equipment not only restored operational capacity but also improved efficiency, reducing fuel consumption by 23 per cent and lowering CO₂ emissions.
“We became the first Ukrainian enterprise to receive a loan under this investment scheme,” says company director Andriy Krasotin.
“The support has significantly reduced our costs, strengthened our competitiveness and helped us attract new clients. The new equipment is already helping us expand our business while contributing to Ukraine’s recovery.”
Supporting recovery and future growth
Since the beginning of the full-scale invasion, the EU4Business-EBRD Credit Line has channelled more than €464 million in loans and €87 million in EU investment incentives to Ukrainian companies.
More than 2,000 businesses have received support, helping sustain over 83,000 jobs across the country.
Behind these numbers are thousands of entrepreneurs determined not only to survive the war but to build a stronger future for Ukraine.
Together, the EBRD and the European Union continue to support Ukrainian businesses – helping them invest, create jobs and plan for tomorrow, even in the most challenging circumstances.
