Ukreksimbank : Ukreximbank in collaboration with EBRD initiates a new lending programme in the national currency to support small and medium enterprises

02 january 2019
Ukreximbank in collaboration with EBRD initiates a new lending programme in the national currency to support small and medium enterprises

On December 10^th 2018, Joint Stock Company The State Export-Import Bank of Ukraine (JSC Ukreximbank) and the European Bank for Reconstruction and Development (EBRD) signed in Kyiv the Loan Agreement for the purpose of implementation of the Small- and Medium-Sized Enterprises Financing Programme aimed at supporting the EU Deep and Comprehensive Free Trade Area (DCFTA) Facility.

Under the Programme Ukreximbank will provide medium- and long-term financing in the national currency for Ukrainian small business investment projects, in particular within the framework of strengthening the economic association with the EU.

The Programme, besides access to the deficit hryvnia loan funds, also includes the availability of qualified technical support to be provided by the European consulting and engineering companies and the possibility for sub-borrowers under the Programme to obtain investment grants from the European Union.

On the occasion of conclusion of this Agreement, Mr. Oleksandr Pavlov, EBRD's Deputy Head of Ukraine, Financial Institutions, outlined: 'The development of local capital markets and lending in the national currency are the EBRD strategic business areas. We are pleased to note that these plans are being implemented in Ukraine in close cooperation with JSC Ukreximbank, our long-standing partner.'

For more than a decade, Ukreximbank has been successfully cooperating with EBRD in supporting the energy efficiency and the renewable energy projects, development of trade and SME, and is the largest EBRD partner in the financial sector of Ukraine.

In connection with the launch of the new Programme that will be jointly implemented with EBRD, Mr. Oleksandr Hrytsenko, Chairman of the Board of JSC Ukreximbank stressed that the joint with the EBRD support of the Ukraine small and medium-sized business has received today a new boost due to such an innovative banking transaction, that will contribute to building up SME's export capacity, strengthening their trade relations with the European partners and taking advantage of the best practices and technologies application in the real economy.

This document was produced with the financial assistance of the European Union. The views expressed herein can in no way be taken to reflect the official opinion of the European Union