Ukrgasbank to receive a EUR 25 million loan from EBRD to support Ukrainian business

The EBRD and EU are allocating a EUR 25 million loan for the state-owned Ukrgasbank to support micro, small and medium enterprises in Ukraine, the bank’s press service has informed.

The funds will be used to finance MSMEs that want to buy equipment or modernize technological processes.

“The borrowers that successfully implement relevant investment projects will be able to receive incentive grants in the form of up to 15% cash back of the loan amount, technical and advisory support funded by the EU under the EU4Business initiative,” the bank reported.

The support is provided under the programme “ЕU4Business-EBRD credit line”, a joint funding instrument that aims to improve competitiveness of local companies and support development of export of their products.

• On June 21, the Cabinet of Ministers approved eRobota, a programme of non-refundable grant support of small and medium enterprises in the amount of UAH 16 billion. The eRobota grants were divided among six areas. On August 2, the government allocated the first grants for new gardens and berry orchards within the eRobota programme.
• Starting from October, businesses were allowed to use the eRobota grants on rent, leasing and advertising.
• On October 28, the Cabinet of Ministers allocated UAH 320 million in grants to processing companies and orchard businesses.

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