|19 december 2016Ukreximbank and the EIB extend cooperation in financing real economy of Ukraine
On December, 19, 2016, Mr. Oleksandr Shchur, Member of the Board of the Joint Stock Company The State Export-Import Bank of Ukraine (JSC Ukreximbank), and Mr. Vazil Hudák, Vice-President of the European Investment Bank (the EIB), signed the EUR 260 million Finance Contract aimed at support of the private sector within the framework of EU-Ukraine DCFTA.
In accordance with the Contract, the long-term loan funds are provided to finance the development of small and medium-sized businesses in Ukraine strengthen potential of the Ukrainian entities involved in implementation of international trade, energy efficiency, environment protection and other top-priority projects.
The effective implementation of this Contract is based on the institutional capacity of JSC Ukreximbank enhanced both in its partnership with the international financial organizations and due to practical experience of the successful utilization of the EIB credit line in 2012, which was also granted for financing agricultural, industrial and renewable energy projects implemented by private small and medium-sized businesses.
Mr. Oleksandr Hrytsenko, Chairman of the Board of JSC Ukreximbank, noted in his comments regarding the signed Contract that “the large-scale opportunities that are available to small and medium-sized businesses in Ukraine due to the entering into the EU-Ukraine Association Agreement should be utilized to the maximum extent. Therefore, taking into account that the primary advantage of the SMEs is their flexibility, the Bank further plans to provide financial support jointly with the EIB to this real economy segment and enhance its new export capabilities in the first turn for trade with the European countries. Thus, JSC Ukreximbank will provide effective implementation of the Contract concluded with the EIB today by supporting growth of the future exporters’ and manufacturers’ potential, which will create new jobs in our country.”