- Loan of €10 million equivalent to boost Bank Lviv’s lending to Ukrainian small businesses
- Financing is part of the EU4Business-EBRD credit line
- Green financing to be the focus of the new credit line
(PRESS RELEASE) LONDON, 5-Nov-2021 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD), a multilateral developmental investment bank, has announced it will provide a local-currency loan worth the equivalent of EUR 10 million to JSC Joint Stock Bank Lviv, a regional bank with strong positions in Western Ukraine, to facilitate access to finance for micro, small and medium-sized enterprises (MSMEs) in Ukraine.
At least 50 per cent of the financing will be dedicated to supporting projects that promote environmental goals, in line with the EBRD’s Green Economy Transition (GET) approach.
The EBRD loan will also help Bank Lviv to diversify its funding structure with medium-term local-currency resources and support the growth of its MSME portfolio, with a focus on sustainable green financing.
The financing is part of the EU4Business-EBRD credit line. The credit line is a joint programme by the EBRD and the European Union (EU), aimed at enabling companies to upgrade their products and services in line with EU standards, foster safe and healthy workplaces and promote green practices. It also helps MSMEs to create jobs by equipping them with new skills and supporting them in their ambition to export to Ukraine’s largest neighbouring market – the European Union – with more than 500 million consumers.
Established in 1990, Bank Lviv is a regional MSME-focused bank with 18 branches in western Ukraine.
To date, the EBRD, a leading institutional investor in Ukraine, has invested more than €15 billion in 505 projects across the country, with a focus on assisting stabilisation, anchoring reforms, strengthening energy efficiency and energy security, and supporting agricultural and industrial projects, as well as smaller businesses.
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