New Financial Support for Ukrainian Small Businesses
The EBRD and EU are providing
Small businesses in Ukraine are eligible for new finance opportunities of up to €120 million ($133 million) under a program organized by the European Union (EU), the European Bank for Reconstruction and Development (EBRD), and its partner banks.
Three local banks have so far signed up for the program and more are expected to join, the EU Delegation to Ukraine stated.
The funds will be lent to local small businesses for investments and working capital purposes.
Small and medium-sized enterprises (SMEs) drive the local economy and create nearly 80 percent of jobs countrywide. The local currency loans are intended to protect them from the volatility of the currency exchange rate.