The European Bank for Reconstruction and Development (EBRD) will provide a loan equivalent to €25 million, available in hryvnia or in euros, to ProCredit Bank for on-lending to micro, small and medium-sized enterprises (MSMEs) in Ukraine. At least 70 per cent of the funds will be dedicated to financing green technology.
Sub-borrowers will be able to invest in equipment, machinery and technology that meets European Union standards for product quality, health and safety measures, as well as environmental protection. The EU provides funding to identify the most suitable equipment and technology, as well as for investment incentives covering up to 15 per cent of the cost of eligible technologies upon their successful implementation.
ProCredit Bank is a market leader in financing local MSMEs in Ukraine. The bank is a 100 per cent-owned subsidiary of ProCredit Holding, based in Germany.
The funding is available under the EU4Business-EBRD credit line, which aims to increase the capacity of small businesses in Armenia, Azerbaijan, Belarus, Georgia, Moldova and Ukraine to access and compete in the EU market.
The EBRD is a leading institutional investor in Ukraine. In the past two years alone, the Bank committed €2 billion to the economy, financing smaller businesses directly and via financial institutions.
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