The European Bank for reconstruction and development in cooperation with the European Union start in Ukraine a line of credit EU4Business.
According to the press service of EBRD in Ukraine, the purpose of the program is to Finance projects of SMEs and providing companies with assistance in the use of Windows of opportunity in connection with the Agreement on free trade zone between the EU and Ukraine.
As indicated, a new line of credit provides for program support private companies that are registered in Ukraine and have up to 250 employees. Borrowers can obtain long-term loans in the amount of up to EUR 3 million equivalent. Loans in local currency will protect borrowers from foreign exchange risks, added EBRD.
According to information, the credit funds will be provided through “Ukreximbank”, which is allocated for this program the equivalent of 22 million euros and LLC “OTP Leasing”, which allocated 10 million euros. Additional resources the EU in the amount of about € 28 million will come in the near future and will be available to other local financial institutions who will join the credit line.
We will remind, the Ministry of social policy plans to send to the Parliament a bill on a new system of help for opening of own business. He suggests that assistance will be provided no cash, and equipment, and other materials. State “PrivatBank” decided to return to active business lending after the nationalization. Previously, this sector was estimated as painful – according to the NBU 98% of the loan portfolio of legal entities has not been serviced.