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 follows a similar facility agreed a year ago.
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.
“This new facility will help ensure we can continue to meet the local-currency financing needs of Ukraine’s private-sector businesses, which is especially important in wartime,” said Arvid Tuerkner, EBRD Managing Director for Ukraine and Moldova.
Over the last three decades, the EBRD has been the largest institutional investor in the country, with cumulative investment of more than €21 billion in over 600 projects. Since the start of Russia’s war on Ukraine, the Bank has deployed more than €6 billion in Ukraine’s real economy.
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