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EFSE provides EUR 12 mln loan to Piraeus Bank to finance agricultural SMEs
KYIV. Oct 28 (Interfax-Ukraine) – European Fund for Southeast Europe (EFSE) provided Piraeus Bank (Kyiv) with a senior loan facility in Ukrainian hryvnia equivalent to EUR 12 million.
According to the Piraeus Bank press service, the loan was provided to finance small and medium-sized agricultural enterprises (SMEs).
Piraeus Bank (formerly the International Commercial Bank) was founded in 1994. As of January 14, 2021, the largest shareholder of the bank with a 99.9918% stake was Piraeus Financial Holdings S.A. (Greece).
According to the National Bank of Ukraine (NBU), as of September 1, 2021, in terms of total assets (UAH 4.62 billion), Piraeus Bank ranked 38th among 72 banks operating in the country.
EFSE is an investment fund established in 2005 at the initiative of the German Development Bank KfW with financial support from the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. EFSE is a public-private partnership that raises capital from donor agencies, international financial institutions and private institutional investors. The foundation’s activities are aimed at promoting economic development in Southeast Europe and the Eastern Neighborhood region.
