Low-carbon economy of Ukraine for climate change prevention: Facilitating investment to scale-up innovative cleantech solutions for low-carbon economy and climate action To accelerate investments in and uptake of low carbon and clean technologies in Ukraine by supporting the development of innovative green financial and market mechanism for SMEs. Note: Disbursement data provided is cumulative and covers disbursement made by the project Agency. 239.  The project is expected to result in more cleantech start-ups and SMEs being identified and supported, thus acting as a catalyst for entrepreneurship development and cleantech investment in Ukraine. The GCIP 2 Ukraine, as a dedicated national platform for promoting and supporting cleantech innovation, will result in an enhancement of human capital, thereby leading to job creation and poverty reduction as well as to an increased women participation in the entire value chain of technology development. New job opportunities in the country will in turn contribute to stemming the current brain drain. Local development and production of cleantech will very likely result in lower costs benefiting both the technology developers and end-users. It is noteworthy that so far around 84% of start-ups and SMEs, that participated in GCIP globally, have remained in business for minimum of five years. Finally, the increased use of cleantech innovations supported by the GCIP 2 Ukraine will also result in GHG emission reductions.     240. The GCIP 2 Ukraine will highlight the need for a stronger support at the national level for cleantech innovations and start-ups/SMEs. In particular, it will provide added value by bridging the gap between cleantech innovators and investors, thereby paving the way for the creation of new businesses opportunities resulting in a value added for the domestic economy. At the same time, through engaging all relevant stakeholders in the national CIEE, and encouraging their cooperation, as well as through linking different CIEEs across countries, the GCIP 2 Ukraine will provide opportunities for international business scale-up and exchange of knowledge.                  241. In summary, GCIP 2 Ukraine yields the following socio-economic benefits as a result of supporting and introducing cleantech into the market, strengthening national institutional capabilities, enhancing the availability of financial instruments, and encouraging inclusivity in the entrepreneurial and job markets. Specifically, these interventions lead to:    Enhancement of human capital  Entrepreneurial, environmental and technological skills development and awareness raising have the effect of a larger number of cleantech products/services being commercialized and entering the market. Better decisions are made by entrepreneurs regarding the sustainability and life cycle approach to the products/services and businesses.   Local product development and production with job creation and income generation   Fostering new local cleantech lowers costs, which benefits both the technology developer and end-user, and encourages consumers to buy more environmentally friendly products/services.  An enriched CIEE  The high-quality institutions build confidence of local and foreign investors as well as the small business community. Among others, this in turn leads to lower transactions costs and results in the increased demand for environmentally friendly technologies both from the investor and consumer side.   Improved energy access for people living in rural areas  At the same time investing in energy access, electrification and renewables are well known to contribute to the decarbonization of the economy. The project is also expected to promote a move away from traditional cooking and heating methods and therefore to reduce health risks.  Promotion of women and youth entrepreneurial development  In general, the promotion of women and youth inclusion tends to enhance the productivity and innovativeness of the economy. What is more, through the gender and youth mainstreaming the cooperation within communities will be enhanced and social cohesion strengthened. 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