Business Development Fund to finance investments of SMEs in energy efficiency

In cooperation with Ukrgasbank JSC, the Business Development Fund (BDF) will finance the investments of small and medium-sized enterprises (SMEs) in energy saving and energy efficiency.

The relevant statement was made by the Ukrainian Finance Ministry, an Ukrinform correspondent reports.

On December 21, 2022, the Business Development Fund and Ukrgasbank JSC signed a credit agreement worth UAH 150 million as part of the project on ‘Refinancing of the energy efficiency investments of Ukrainian small and medium-sized enterprises through the financial sector’.

The project is financed by the Government of Germany through the German Development Bank (KfW) in accordance with the Credit and Grant Agreement signed between the Ukrainian Finance Ministry and the Business Development Fund.

“The Ukrainian Finance Ministry continues to actively attract funds from international partners to provide support for Ukrainian businesses. As part of the new project of the Business Development Fund, the KFW loan funds will be allocated to Ukrgasbank JSC to finance the investment projects of SMEs in energy saving and energy efficiency. This is especially important amid rolling blackouts and will contribute to uninterrupted business activities and the preservation of jobs in small enterprises,” Ukrainian Deputy Finance Minister Yurii Drahanchuk noted.

The Project will also introduce new approaches to lending to small and medium-sized enterprises based on international environmental and social standards of the Sustainable Development Financing Policy.

Photo: mof.gov.ua

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