Washington DC. October 2025 - The Small Enterprise Assistance Fund s (SEAF) has signed a Memorandum of Understanding with the City of Lviv, formalizing a strategic partnership to advance Ukraine's reconstruction through the development and financing of small and medium-sized enterprises.

The partnership builds upon SEAF's announcement of the Lviv Construction and Recovery Fund, introduced at the Ukraine Recovery Conference (URC2025) in Rome, which will serve as a cornerstone investment vehicle for Ukraine's reconstruction. The Fund, managed by SEAF in coordination with the City of Lviv, is expected to mobilize USD 30 million in its first close, targeting SMEs operating in the engineering, procurement, and construction sectors and related supply chains critical to rebuilding Ukraine's infrastructure and economy.

"Rebuilding Ukraine cannot wait for the end of the war, it has to begin now, we want to work with Ukrainian companies so that they can prosper in the regrowth." said Paul Sheehan, Chief Executive Officer of SEAF.

Mayor Andriy Sadovyi emphasized Lviv's role as both a humanitarian and innovation hub: "Lviv stands as a city of courage and regeneration," said Mayor Sadovyi. "Through our Unbroken ecosystem, spanning hospitals, rehabilitation, education, and social innovation, we are building a city that embodies resilience. We support local companies, we innovate, and we create opportunities for people affected by war to rebuild their lives. This collaboration with SEAF helps bring in the capital and expertise needed to make that possible."

The Lviv Construction and Recovery Fund will serve as a model for future regional funds currently under development, designed to attract capital from development finance institutions, European governments, and corporate foundations committed to Ukraine's reconstruction. The initiative complements SEAF's existing programs in Eastern Europe, including the SME Green Advancement Initiative (SGAI) in Poland, which is developing a pipeline of EPC-focused SMEs to participate in regional infrastructure and energy transition projects.