On April 11, 2022 the Law of Ukraine on Ratification of the Guarantee Agreement between Ukraine and the International Bank for Reconstruction and Development in connection with the Additional Financing for COVID-19 Response under the Access to Long Term Finance Project, adopted by the Verkhovna Rada of Ukraine on March 24, 2022, comes into force.
Adoption of this Law allows Ukreximbank to attract a state-guaranteed loan in the amount of US$ 100 million for 20 years to finance Ukrainian private enterprises in difficult war times for our country.
The loan proceeds will be used to finance the sectors of economy determined as strategic under martial law in accordance with the adopted regulations. Ukreximbank will provide medium- and long-term loans both to finance investment and working capital projects. In particular, it is planned to finance sowing campaign, purchase of fuels, other materials, equipment, and raw materials needed by Ukrainian enterprises.
The Project will have a positive impact on Ukrainian businesses, especially small and medium enterprises, providing them with support during martial law. It will help expand the real sector production capacity, preserve existing and create new jobs, which is of growing importance to stimulate business and the economy in general to overcome the negative consequences caused by russia's full-scale military aggression against Ukraine.