Ukraine will receive EUR 7.4 million from KfW (Kreditanstalt fuer Wiederaufbau, Reconstruction Credit Institute; Germany) for preferential lending to small and medium-sized enterprises.
This is stated in a notification of the Ministry of Finance, reports Ukrainian News Agency.
On July 25, Minister of Finance of Ukraine Serhii Marchenko, executive director of the Entrepreneurship Development Fund Andrii Hapon, and director of the KfW for the region of South-Eastern Europe and Turkey Klaus Muller signed the Agreement on the provision of a loan and a grant for the implementation of the project "Refinancing of energy-efficient investments of SMEs of Ukraine through the financial sector," financed by the Government of the Federal Republic of Germany.
The project is a continuation of the joint KfW project "Support of SMEs," the implementation of which made it possible to develop a system of lending to Ukrainian SMEs in the national currency thanks to financial assistance from the European Union to compensate for losses from the exchange rate difference and to finance small and medium-sized enterprises for a total amount of more UAH 1 billion.
The credit (of EUR 7 million) and the grant (of EUR 0.4 million) funds will be used for the implementation of the Project through the KfW.
The loan is provided by the Government of Ukraine for 30 years with a 10-year grace period.
Raised loan funds will be directed by the Entrepreneurship Development Fund through partner banks to finance SMEs in the national currency, which will contribute to maintaining the liquidity of financial institutions and allow SMEs to invest in energy-efficient measures under martial law.
As reported by Ukrainian News Agency, at the beginning of June, Ukraine received EUR 150 million from the KfW to finance social costs.
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