European Fund for Southeast Europe provide €4 million loan to Bank Lviv to support small business
October 20, 2023

European Fund for Southeast Europe provide €4 million loan to Bank Lviv to support small business

The European Fund for Southeast Europe (EFSE) has announced the official signing of a new €4 million loan in UAH equivalent with Bank Lviv, a leading regional bank in Western Ukraine.

The loan aims to preserve and amplify the resilience of local micro, small and medium enterprises (MSMEs) despite the consequences of the Russian war against Ukraine.

EFSE Board Chairperson Klaus Müller said that “in these tumultuous times, it’s imperative to fortify institutions like Bank Lviv that have a commendable track record of actively supporting MSMEs.”

“Ukrainian businesses show steady resilience, they continue to grow, invest, and require financing. We see demand from all industries, and unlike previous years there are many requests not only for working capital, but for investment loans – which is a very positive sign,” said  Ashot Abrahamyan, Chairman of the Board of Bank Lviv.

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