The European Bank for Reconstruction and Development (EBRD) and Citi Ukraine have signed a US$100 million revolving credit facility in Ukrainian hryvnia to increase the availability of the national currency to local businesses affected by the war. This is the largest facility of its kind in hryvnia signed to date between the two institutions.
The facility enables the EBRD to secure access to hryvnia liquidity and provide local-currency loans both directly and through domestic financial intermediaries to existing and potential clients in Ukraine. The funds will be used to support their liquidity, short-term working capital and trade-finance needs, while limiting currency exchange-related risks.
“The EBRD has deployed €3.8 billion in wartime Ukraine since the start of Russia’s full-scale invasion, and we expect to maintain similar investment levels going forward,” said Matteo Patrone, EBRD Managing Director for Eastern Europe and the Caucasus. “This new facility will help ensure we can continue to meet the local currency financing needs of Ukraine’s private-sector businesses within these levels. This is particularly essential during this time of economic uncertainty.”
