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Oschadbank signs grant program with German investors to finance MSMEs for EUR2.4 mln
KYIV. Dec 15 (Interfax-Ukraine) – State-controlled Oschadbank (Kyiv) and Deutsce Gesellschaft für Internationale Zusammenarbeit (GIZ), German Sparkassenstiftung and the Entrepreneurship Development Fund has signed a grant program for financing micro, small and medium-sized enterprises (MSME) in the amount of EUR2.4 million, including EUR1.3 million as the initial amount of access to grants.
According to a release, bank loans will be provided to entrepreneurs in conjunction with grant funds, which will be up to 30% of the project amount.
In addition, the consultant German Sparkassenstiftung will conduct trainings to develop the entrepreneurial and management skills of Oschadbank’s clients.
Oschadbank was founded in 1991. Its sole owner is the state.
According to the statistics of the National Bank of Ukraine (NBU), as of November 1, 2022, Oschadbank ranked second in terms of total assets (UAH 270.806 billion) among 67 banks operating in the country.
