EBRD, EU to allocate EUR 120 mln for SME development in Ukraine

REUTERS

The European Bank for Reconstruction and Development (EBRD), together with the European Union, is launching a new EUR 120 million program for financing small- and medium-sized enterprises (SMEs) in Ukraine.

As the EBRD said, funds in the amount of up to EUR 70 million in the local currency will be available through partner banks: Raiffeisen Bank Aval, ProCredit Bank and OTP Bank.

In addition, the program will receive a financial grant from the EU under the EU4Business program.