Germany to provide UAH 100 mln in loans to Ukrainian business

The German-Ukrainian Fund and Ukraine’s KredoBank have signed an agreement on providing loans totaling UAH 100 million to Ukrainian small and medium-sized enterprises, the EU delegation to Ukraine reported on Wednesday.

“The German government supports the German-Ukrainian Fund since 1996. Since that time, Ukrainian business has received many opportunities, in particular, the SME Development Assistance Program. The joining of KredoBank to the program will spread the access of Ukrainian entrepreneurs to loans in national currency on favorable terms,” First Secretary of the Embassy of the Federal Republic of Germany, Department of Economic Cooperation and Development Sebastian Knoke.

According to the EU delegation to Ukraine, KredoBank will issues loans to SMEs at a rate of 15% per annum in national currency.

The transaction is part of the SME Assistance Program and is funded by the Government of Germany through KfW Development Bank and is supported by the EU4B European Union initiative.

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