The European Fund for Southeast Europe (EFSE) and the Green for Growth Foundation (GGF) will help Bank Lviv in Ukraine to strengthen its digital infrastructure and ensure business continuity by building an efficient data recovery infrastructure.
Following the Russian invasion on 24 February 2022, the banking system was forced to adapt quickly to wartime operations. To enhance data protection, the National Bank of Ukraine (NBU) allowed banks to store and process data on cloud sites in the European Union, the United States, the United Kingdom or Canada. This minimises the risk of data loss in case of physical damage to information servers in Ukraine. Banks are now required to have their primary and backup data sites located in different locations, with the national payment system gateway providing a link to the NBU.
In response to this requirement, the EFSE Development Fund together with the GGF technical assistance fund helped Lviv Bank to upgrade its backup cloud services, establish a backup operations centre, relocate critical department staff and train them in relevant security and protection aspects.
This project is a part of the ‘Standing Together with Ukraine’ programme organised by EFSE, GGF and the fund’s consultant, Finance in Motion.
Bank Lviv has been a partner of EFSE and GGF since 2020, receiving a total of €21 million equivalent in Ukrainian hryvnia and significant support in the form of technical assistance.
