The European Investment Bank (EIB) will provide a €20 million top-up to the existing loan with the Export-Import Bank of Ukraine (Ukreximbank). Additional financing will be made available in local currency to Ukrainian small and medium-sized enterprises (SMEs).
The European Union supports the operation with a grant contribution, which will help improve terms and conditions of the funding made available to SMEs. This contribution is part of the EU’s wider EU4Business initiative, which brings together EU support for SME development and improves the business environment in the Eastern Partnership region.
The loan supports private sector development, including recovery of SMEs from the economic impact of the COVID-19 pandemic, which is one of the five flagship objectives of the European Union’s Economic and Investment Plan for the Eastern Partnership in Ukraine.
This new loan is one of the four financing agreements in the region combining EIB loans and EU grants worth a total of €171 million that were finalised in the margins of the EU – Eastern Partnership Summit in Brussels.
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