On 23 November, the European Investment Bank (EIB), the EU bank, disbursed €20 million to the State Export-Import Bank of Ukraine (Ukreximbank).
This is the last tranche of a €300 million debt facility implemented by Ukreximbank.
The funds in local currency will be on-lent via Ukreximbank to improve Ukrainian small and medium-sized enterprises’ (SMEs) resilience in wartime conditions, enabling them to continue their economic activities and meet the essential needs of the population.
The European Union is supporting this transaction with a €2 million grant, which will help improve the terms and conditions of the funding made available to SMEs. This EU contribution is a part of the European Union’s broader EU4Business initiative, which aims to foster SME growth by improving access to finance, providing business development services and promoting better business regulations.
EIB Vice-President Teresa Czerwińska, responsible for the Bank’s operations in Ukraine, said: “In these extraordinarily challenging times, it’s crucial to enhance vital access to finance for war-affected SMEs, the backbone of the Ukrainian economy, to meet their business recovery needs and support the private sector. The EIB remains dedicated to ensuring Ukrainian SMEs have the support needed for the country’s recovery.”
