EBRD provides financing package for Piraeus Bank Ukraine
EBRD, Kyiv. Ukraine,
Fri, Feb 07, 2020
- EBRD financing package for Piraeus Bank Ukraine
- US$5 million SME lending facility in local currency
- €10 million guarantee under EBRD’s Risk Sharing Facility
The EBRD and Piraeus Bank Ukraine (PBU) are supporting the development of Ukraine’s small and medium sized enterprises (SME) with new financial products designed to reduce project and currency exchange associated risks.
The financing package arranged by the EBRD for PBU includes a local currency loan of up to US$ 5 million-equivalent for lending to small businesses and a €10 million funding under the Bank’s Risk Sharing Facility (RSF).
The EBRD will share the risk on individual loans made by PBU to domestic businesses under the scheme. The RSF will help increase the size and tenor of loans to SMEs across the country.
Piraeus Bank Ukraine, a wholly owned subsidiary of Piraeus Group of Greece, is a medium-sized commercial bank serving corporate, small business and retail clients through a network of 18 branches across the country.
The EBRD is a leading institutional investor in Ukraine and to date has committed more than €14.54 billion in over 460 projects to the country.