Ukraine receives EUR 50M grant from KfW

This is said in a statement published on the website of Ukraine’s Ministry of Finance.

“The funds will be used to refinance the costs of the state support programme "Affordable Loans 5-7-9%", which will allow small and medium-sized businesses in Ukraine to continue to have access to concessional lending,” the statement says.

The state programme Affordable Loans 5-7-9% is implemented by the Business Development Fund, which provides financial support to Ukrainian businesses aimed at their recovery and development under martial law.

"Supporting small and medium-sized businesses is one of the priorities of the Government of Ukraine and is being implemented through the government programme "Affordable Loans 5-7-9%". The financial assistance from KfW allows us to continue providing Ukrainian businesses with affordable financing, which in turn will contribute to their development, creation of new jobs and growth of the country's economy in the context of a full-scale war," said Minister of Finance of Ukraine Sergii Marchenko.

As reported, on behalf of the German Federal Ministry for Economic Development and Cooperation (BMZ), KfW signed a grant agreement with the Enterprise Development Fund (EDF) for up to EUR 1 million to finance a comprehensive reform of the EDF.