EIB Group Bolsters Support for Ukrainian Businesses with EU-Backed Guarantees and Grants
The European Investment Bank (EIB) Group is increasing its financial support for Ukrainian businesses through new agreements with Ukreximbank, Oschadbank, and PrivatBank. These initiatives, backed by the European Union under the Ukraine Investment Framework, aim to provide crucial financing to sustain economic activity and aid the country's recovery amidst the ongoing conflict. Specifically, the EIB Group has signed guarantee agreements with Ukreximbank and Oschadbank, which are projected to unlock €286 million in financing for approximately 2,200 Ukrainian small and medium-sized enterprises (SMEs). Each bank will be able to provide up to €143 million in loans, offering more favorable terms to businesses. Additionally, a separate €3.4 million grant agreement has been signed with PrivatBank. This grant is intended to support businesses particularly affected by the war, including those owned or operated by veterans, internally displaced persons, women, and young entrepreneurs, as well as newly established co...