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US-based DFC, Bank Lviv sign 10-year agreement to provide guarantees for loans to MSMEs worth $19 mln
KYIV. Dec 9 (Interfax-Ukraine) – The U.S.-based Development Finance Corporation (DFC) and Lviv Bank signed a second 10-year loan guarantee agreement for micro, small, and medium-sized businesses (MSMEs) on December 8, the bank’s press service said on Thursday.
"Financial support from the U.S. organizations will allow lending to Ukrainian businesses for almost $19 million," according to the statement.
At the same time, it is indicated that the new guarantee agreement covers lending to MSMEs in all sectors of the economy and allows the bank to cover 80% of the credit risk on loans paid under the terms of the guarantee agreement.
As reported, in April 2020, the EBRD provided a four-year loan of EUR 7.5 million to Lviv Bank for lending to SMEs under the EU4Business-EBRD program, while in September – a 10-year loan to provide bank guarantees for loans for micro, small and medium business.
