IFC, European Union (EU) and Credit Agricole Ukraine has announce a new €40m equivalent risk-sharing facility to boost access to finance for Ukraine's small and medium enterprises (SMEs), crucial for the country's economic resilience.
The risk-sharing facility, for which IFC will contribute a local currency equivalent of €20m with EU support, will provide critical financial support to smaller businesses, including agricultural and rural SMEs. The bank currently serves over 400,000 clients across Ukraine.
Katarína Mathernová, Ambassador of the EU to Ukraine said: "As the backbone of the Ukrainian economy, small and medium size enterprises play a key role in recovery, reconstruction and modernisation efforts. With this new risk-sharing facility, the EU is stepping up its support to address the needs of Ukraine's businesses and boost investment in the country."