14/01/2026
State-owned Ukreximbank has signed a new guarantee agreement with the European Investment Bank (EIB) and the European Investment Fund (EIF) — together the EIB Group — with the support of the European Union. The guarantee agreement is expected to mobilise up to €50 million in financing through Ukreximbank.
The purpose of the agreement is to support private businesses affected by the rapidly growing economic impact of the ongoing war of aggression, and to facilitate financing for the urgent needs of SMEs and labour-intensive SMEs.
Under the second guarantee agreement, the range of potential beneficiaries has been expanded to include the category of “labour-intensive SMEs”, covering companies that have grown beyond the standard SME definition under EU directives but still employ up to 500 people at group level and have not yet reached the scale of large corporations. The expanded scope of the EIB and EIF guarantee instrument is aimed at supporting private businesses facing economic challenges caused by the full-scale invasion, inflationary pressures, and the energy crisis.
The financing has been made possible thanks to EU support under the EU4Business Guarantee Facility initiative. The new guarantee instrument will allow the bank to significantly increase lending to small and medium-sized enterprises on more favourable terms, including reduced collateral requirements.
European Investment Fund Chief Executive Marjut Falkstedt said: “At a time of extraordinary pressure on Ukraine’s economy, ensuring continued access to finance is essential. Through our cooperation with Ukrainian banks the EIB Group is helping ensure that small businesses receive the support they need to withstand the war and continue contributing to jobs and economic resilience.”
Member of the Management Board of Ukreximbank Viktoriia Masna said: “The signing of the second guarantee agreement with the EIB Group demonstrates the proven effectiveness of this instrument in supporting Ukrainian small and medium-sized enterprises. In the context of the ongoing war, access to finance remains critical for business continuity. The guarantee will enable Ukreximbank to expand lending on more accessible terms, reduce collateral requirements and channel financing to business that are preserving jobs and contributing to the resilience and recovery of Ukraine’s economy. In addition, the grant component of EU4Business Initiative will provide extra support to vulnerable entrepreneurs, including women, youth and business in war-affected regions. Such support from the EU is vital as it demonstrates EU solidarity with Ukraine, strengthens business resilience amid aggression and promotes equitable recovery.”
The European Investment Bank (EIB) — the bank of the European Union — has been operating in Ukraine since 2007. Following Russia’s full-scale invasion in 2022, the EIB significantly stepped up its support to Ukraine to strengthen the country’s resilience and help restore critical infrastructure. Since then, the Bank has provided more than €4 billion in financing to Ukraine.
Within the framework of the EU for Ukraine (EU4U) initiative, and thanks to its key role in implementing the Ukraine Investment Framework — a dedicated investment mechanism under the €50 billion Ukraine Facility — the EIB continues to expand its activities in Ukraine in close cooperation with EU institutions and international partners.
The European Investment Fund (EIF), part of the EIB Group, supports micro, small and medium-sized enterprises by improving access to finance through guarantees, equity and microfinance instruments, contributing to innovation, growth and employment across Europe.
