European Investment Bank and European investment fund signed a deed of guarantee with the Ukrainian state owned Oschadbank for EUR 50mln facility aiming at crediting of SME in Ukraine.
Given the initiative, Oschadbank will be able to provide 70% guarantee upon a loan in the frames of SME financing initiative. The deed stipulates possibility for expanding the facility on special favorable terms meaning reduction of the guarantee requirements.
At this, the European Union will channel the funds via its Neighbourhood Investment Facility in the frames of EU4Business initiative.
Oschadbank has already started its complex SME program that includes consulting and financing, told Andriy Pyshnyi the chairman of the board of Oschadbank.
