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Bank Lviv will finance SME projects on energy supply, energy efficiency for UAH 120 mln from KfW loan
KYIV. Jan 27 (Interfax-Ukraine) – The Entrepreneurship Development Fund (EDF) and Bank Lviv have signed a loan agreement under which about UAH 120 million is allocated to finance small and medium-sized enterprises’ (SME) investments in the field of energy supply and energy efficiency, the Ministry of Finance announced on Friday.
The release clarifies that the interaction will take place within the framework of the project "Refinancing energy-efficient investments of Ukrainian SMEs through the financial sector," which is funded with the support of the German government through the German Development Bank KfW with the assistance of the Ministry of Finance.
"An important part of the project is the consulting support of partner banks and the exchange of experience. The Ukrainian banking system must adopt technologies for lending energy efficient projects and achieve international standards. The international approach to financing sustainable development deserves special attention," Bianca Clausen, Head of Sustainable Economic Development for Eastern Europe, Turkey and Central Asia at KfW Development Bank said.
It is noted that under the EU4Business initiative, lending to SMEs will be carried out in the national currency, which will allow avoiding currency risks. Also, this funding can be combined with the Affordable Loans 5-7-9% state program.
"Thanks to financial support from the EU, the EDF is able to offer Ukrainian banks and SMEs loan resources in the national currency, which can be combined with the Affordable Loans 5-7-9% state program to ensure the availability of energy-efficient investments for SMEs in a rather difficult time", Andriy Gapon, executive director of the fund, noted.
The ministry recalled that a week earlier, within the framework of this project, the Entrepreneurship Development Fund signed a similar agreement with Ukrgasbank for UAH 150 million.
