On 25 January, the European Fund for Southeast Europe (EFSE) committed to provide the equivalent of €20 million in Ukrainian hryvnia to its newest partner, Credit Agricole Bank, a key provider of financial services to the agricultural sector in Ukraine.
The investment will enable Ukrainian agricultural producers and farmers to finance in local currency. This will facilitate over 3,000 sub-loans and support approximately 9,000 jobs.
“By facilitating loans in local currency, we are, together, investing in the stability and the long-term viability of agricultural businesses, that are one of the main drives of Ukraine’s economy,” said EFSE Board Chairperson Klaus Müller.
EFSE, an impact investment fund established in 2005, aims to foster economic development and prosperity in Southeast Europe and the Eastern Neighbourhood Region by investing in micro and small enterprises as well as living conditions for private households.
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