Ukragasbank attracted EUR 9mln guarantees from the EIB for the risk bearing SME finance project. The EIB approved the decision back on 16 November 2017. The facility was provided in the frames of the Ukraine–European Union Association Agreement and the EU-Ukraine Association Agreement/its Deep and Comprehensive Free Trade Area (DCFTA).
The total SME finance project amounts to EUR 77mln. The EIB facility of EUR 9mln will facilitate access to supply of SME loans to borrowers providing 70% guarantee of a loan principal with an option to further extended financing and waiving the requirements.
Ukrgasbank was registered in 1993. As of 1 January 2017, the Ministry of Finance of Ukraine held 94.% shares of the bank. Ukrgasbank was 4th in terms of assets among 88 operating banks, according to the National Bank of Ukraine, as of 1 October 2017.