Ukreximbank signed an agreement with the European Investment Bank: what it means for business
11 February 14:57
The state-owned Ukreximbank has signed a guarantee agreement with the European Investment Bank (EIB) and the European Investment Fund (EIF) to facilitate access to finance for small and medium-sized enterprises (SMEs). This was reported by "Komersant Ukrainian" with reference to the bank’ s press service.
The total loan portfolio of Ukreximbank, which the EIB plans to cover with a guarantee, amounts to 34 million euros.
The signing of the guarantee agreement expands the long-standing cooperation between Ukreximbank and the EIB Group and will help support Ukrainian SMEs by providing favorable lending conditions, including relaxed collateral requirements. The transactions covered by the guarantee instrument include: investment loans, working capital loans, revolving credit lines, financial leasing, etc.
“Ukreximbank has many years of successful experience of cooperation with the EIB aimed at supporting Ukrainian SMEs through specialized programs that promote sustainable development. This financial package will expand Ukreximbank’s lending capacity and provide much-needed financing to Ukrainian businesses to support their operations and ensure sustainable sources of income, which is key to strengthening Ukraine’s economic resilience and post-war reconstruction,” said Teresa Czerwinska, Vice President of the European Investment Bank Group responsible for the bank’s operations in Ukraine.
“The signing of the guarantee agreement with the EIB and the EIF will allow Ukreximbank to simplify access to finance for Ukrainian small and medium-sized businesses and will facilitate further investments in the Ukrainian economy. Today, SMEs need timely and comprehensive economic support for their businesses, in particular through improved access to long-term financing through new guarantee instruments, in order to receive powerful power for growth, increase competitiveness and resilience to challenges, and create new jobs across the country,” said Viktor Ponomarenko, Chairman of the Management Board of Ukreximbank.
REFERENCE
The European Investment Bank (EIB) is a European Union lending institution owned by its member states. The EIB Group has been supporting Ukraine’s resilience, recovery and economy since the first day of Russia’s full-scale invasion. In 2024, the Bank supported projects aimed at securing Ukraine’s energy supply, rebuilding damaged critical infrastructure and ensuring the continuity of essential services across the country.
This brings our total assistance since the beginning of the war to over €2.2 billion. In 2024, the EIB signed new investment agreements worth more than €250 million for projects aimed at further strengthening social infrastructure and supporting businesses that are the backbone of Ukraine’s economy.
The European Investment Fund (EIF) is part of the European Investment Bank Group. Its main mission is to support European micro, small and medium-sized businesses and help them gain access to finance. The EIF designs and develops growth projects, guarantees, and microfinance instruments specializing in this market segment. The EIF contributes to the EU’s goals of supporting innovation, research and development, entrepreneurship, growth and employment.
