On 8 October, the European Bank for Reconstruction and Development (EBRD) signed an agreement to launch new credit lines in local currency in Ukraine via the country’s local banks.
Also supported by EU4Business, the agreement will allow small Ukrainian businesses to benefit from at least the equivalent of €120 million of new financing opportunities for small and medium-sized enterprises (SMEs).
The first local currency facilities are signed between the EBRD and three Ukrainian banks. The programme, which will enhance access to finance opportunities for SMEs while eliminating currency fluctuation risks, is possible thanks to a grant support from the EU under the EU4Business umbrella initiative.
The EU4Business initiative provides access to finance as well as advisory services to Ukrainian SMEs, assisting them in taking advantage of the many opportunities provided by the EU Single Market.