03/05/2021 | Press release | Distributed by Public on 03/05/2021 04:46
Ukraine: EIB and Ukreximbank enhance access to local currency funding for SMEs thanks to EU support
€20 million is being made available in local currency to enhance access to affordable finance for SMEs in Ukraine.
The operation is backed by the European Union and comes under the Team Europe initiative aiming to provide a sustainable response to the coronavirus crisis.
The European Investment Bank (EIB) has signed an agreement with the State Export-Import Bank of Ukraine (Ukreximbank) to increase the funding limit of the Deep and Comprehensive Free Trade Area (DCFTA) Support Facility project to €280 million. Additional financing, namely a €20 million loan, will be provided via a parallel cross-currency swap in Ukrainian hryvnia (UAH) and will be on-lent to local private businesses with a focus on small and medium-sized enterprises (SMEs).