European Fund for Southeast Europe promotes power of local currency financing in Ukraine

On 4 March, the European Fund for Southeast Europe (EFSE), supported by the EU under its EU4Business initiative, brought together local and regional leaders and authorities from the financial sector for an online conference on the role of local currency lending in fostering sustainable economic growth. The event, titled ‘Local Currency for Local Success: Ukraine Edition’, was attended by over 60 participants from the Eastern Neighbourhood and beyond.

They exchanged their knowledge on how local currency financing supports business development, empowers entrepreneurs, and protects them from exchange rate risks, especially during COVID-19 crisis.

Attendees included high-level central bank representatives from Armenia, Georgia, Moldova, and Ukraine, as well as from the EU Directorate-General for Neighbourhood and Enlargement Negotiations. The discussions and keynote addresses were supplemented by an interactive Q&A session for direct exchange between participants.

‘Local Currency for Local Success: Ukraine Edition’ is part of an event series within EFSE’s ‘Power of Local Currency’ campaign, which seeks to promote the awareness and practice of local currency lending across the Eastern Neighbourhood. In line with its mission to promote sustainable development through responsible finance, the fund itself provided local currency loans to partner institutions equivalent to €190 million in 2020.

Find out more

Press release