Funding boost for Ukrainian businesses as EBRD lends to Ukrgasbank
The European Bank for Reconstruction and Development (EBRD) and the European Union are providing new funds to support micro, small and medium-sized enterprises (MSMEs) in Ukraine. An EBRD loan of €25 million in hryvna equivalent to Ukrgasbank, a key local lender, will be extended to local companies to upgrade their processes and equipment and to advance sound health and safety practices.
At least 70 per cent of the loan is aimed at financing investments in green technologies.
For successful investment projects, borrowers are eligible to receive grant incentives and technical assistance, funded by the EU under its EU4Business initiative.
This support is part of the EU4Business-EBRD credit line – a joint financing instrument designed to boost the competitiveness of local businesses and support their export ambitions.
Investments in high standards and high-quality products will allow businesses to compete more successfully both on local and international markets. In addition to its presence in Ukraine, the EU4Business-EBRD credit line programme is available in Georgia and Moldova and has recently been extended to cover the entire Eastern Partnership region.
Ukraine is a top-three investment destination for the EBRD. In the past two years alone, the Bank has committed €2 billion to the economy. The EBRD finances infrastructure, energy efficiency and energy security, agricultural and industrial projects as well as smaller businesses. The investments are combined with support for policies that promote a more enabling business environment.
17.06.2021