The European Bank for Reconstruction and Development ( EBRD) and the EU start a credit line in Ukraine EU4Business . It was reported by the EBRD Press Service in Ukraine.

According to the report, the purpose of the program is to finance the SME projects and help companies to use all the opportunities opened after the Free Trade Agreement between the EU and Ukraine had been signed.

The new credit line provides support for private companies registered in Ukraine with less than 250 employees. Credit users can receive long term loans in the amount of up to 3 million EUR in UAH equivalent. As it was reported by EBRD that crediting companies in local currency protects them from exchange risks.

Loans will be provided through Ukrecsimbank, which received the equivalent of 22 million EUR for this program and through LCC “OTP Leasing” which received 10 million EUR. Additional resources from the EU in the amount of approximately 28 million EUR are expected in the nearest future and will be available for other local financial institutions which will join the credit line.

For more details of the lending program and for the application form, please, follow the  link.