The European Bank for Reconstruction and Development (EBRD) has disbursed US$33 million to Ukraine as a second tranche on a second credit line for small- and medium-sized enterprises (SMEs).
The EBRD has provided about US$170 million for SME development projects since 1995, National Bank of Ukraine first deputy chairman, Arsen Yatsenyuk, said. The EBRD low interest rate policy has stimulated the development of small business in Ukraine, he added.
EBRD director for Ukraine, Kamen Zahariev, said loans for SME financing have up to now been allocated to authorised commercial banks through the National Bank and under National Bank guarantee, but the EBRD may soon open lines of credit directly to commercial banks.
Banks with experience of servicing SME loans and that meet EBRD criteria may receive the right to accept such loans.
Source: Interfax
