EBRD lends EUR 10 mln to Lviv Bank for SMEs

KYIV. Aug 16 (Interfax-Ukraine) – The EUR opean Bank for Reconstruction and Development (EBRD) is providing a EUR 10 million A/B loan to Lviv Bank (Lviv) for lending to small and medium-sized enterprises (SME), including those in food security sectors and relocated to the west of Ukraine.

"The loan is a clear mark of the EBRD’s and impact investors’ unwavering support for clients in Ukraine. The EBRD’s share of EUR 4.25 million will be complemented by up to EUR 5.75 million funding from B lenders, including EUR 4.75 million jointly contributed by the EUR opean Fund for Southeastern EUR ope (EFSE) and the Green for Growth Fund (GGF)," the bank said.

"The loan falls within the EBRD’s Resilience and Livelihoods Framework (RLF) for companies and countries affected by Russia’s war on Ukraine, which began on February 24. With donors and partners, the EBRD has pledged to invest EUR 1 billion this year into the Ukrainian economy," it said.

As reported, in April 2020, the EBRD provided a four-year EUR 7.5 million loan to Lviv Bank for lending to SMEs under the EU4Business-EBRD program.

Lviv Bank is a regional bank founded in 1990 with fully EUR opean shareholders since 2007, specializing in lending to SMEs in Western Ukraine. At the beginning of May this year, in terms of total assets (UAH 6.44 billion), it ranked 29th among 69 operating Ukrainian banks. The bank’s network includes 19 branches headquartered in Lviv.