Ukrgasbank gets money to issue loans for lending to small and medium-sized enterprises
The German-Ukrainian Fund (GUF) and Ukrgasbank (Kyiv) have signed an agreement on lending to small and medium-sized Ukrainian enterprises (SME) for the amount of UAH 81 million.
According to a press release of the EU Delegation to Ukraine, within the framework of this project Ukrgasbank will issue loans to Ukrainian SMEs at a rate of 15% per annum in the hryvnia for the acquisition and modernization of equipment, purchase, construction or reconstruction of premises, replenishment of working capital to expand production. The priority sectors for lending under the terms of the agreement are agriculture, processing industry, hotel and restaurant business and energy efficiency projects.
The program is funded by the German government through the German State Development Bank KfW and supported by the EU4Business initiative by providing funds to compensate for currency risks.