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EIB launched loan program for Ukrainian businesses

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EIB Group is the main investment partner of Ukraine. Since the beginning of the war, the EIB has given Ukraine more than 2 billion euros

For Ukrainian small and medium-sized enterprises, the European Investment Bank (EIB) is launching a loan program with a total budget of more than 1 billion euros. This was announced by EIB President Nadezhda Calvino, reports Interfax-Ukraine.

“Ukraine will be one of the largest reconstruction projects in Europe for the coming years In Berlin, we signed and announced several new projects and investment initiatives supported by our partners from the European Commission,” Calvino said following the Ukraine Reconstruction Conference in Berlin.

According to him, this includes local infrastructure, support from the national gas supply company Naftogaz of Ukraine on decarbonization and diversification of energy sources, expanding the activities of the leading EU advisory services program (JASPERS) in Ukraine and providing new guarantees to attract more than €1 billion in loans to Ukrainian small and medium-sized companies.

Calvino said that the EIB Group is Ukraine’s main investment partner. Since the beginning of the war, the EIB has provided more than 2 billion euros for urgent needs – to restore national engineering and social infrastructure, energy facilities, and support businesses, especially small and medium size.

Thanks to the agreement signed in Berlin on Tuesday 11 June, the European Commission and the EIB Group will open more than €1 billion in loan funds for local businesses in Ukraine, helping them access the credit on favorable terms and improve their own stability.

“Focus particular attention on businesses most affected by war (start-ups, women in business, young entrepreneurs), as well as businesses owned by internally displaced persons, veterans and those who work for them with local banks and other financial intermediaries in Ukraine, to improve lending conditions, thereby ensuring wider access to financing for small and medium-sized enterprises,” said President of the EIB.

We remind you that on May 10 the government made a decision that will allow two Ukrainian banks to attract up to 30 million euros from the European Investment Bank. The funds will be used to support Ukrainian small and medium-sized enterprises by improving lending conditions.

It was also reported that the European Investment Bank (EIB) will provide loans to Ukraine in the amount of 560 million euros this year for energy projects, transport infrastructure and housing restoration.

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Source: korrespondent

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