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Ukraine received EUR 400 mln from EIB to support real-economy sector

Ukraine received EUR 400 mln from EIB to support real-economy sectorUkraine's Finance Ministry has received a EUR 400 million loan from the European Investment Bank (EIB) to supply loans to the real-economy sector as well as to small and medium-sized enterprises (SME) in Ukraine.

"According to the terms of the loan, the debtor in this agreement is Ukraine represented by the Ministry of Finance which will be providing loans to selected banks which will be funding the projects of their customers," the ministry said on Tuesday.

The loan of the EIB can be provided by the Ministry of Finance to commercial banks which shall be funding mid- and long-term investment projects (up to 10 years) and providing resources for mid-term current assets (starting from two years) of private companies in Ukraine.

Read also: NBU forecast for 2016: Economic growth to continue restoring, but will be moderate

The sum of loans to companies can vary from EUR 25 million (for small and medium-sized business) to EUR 50 million for companies employing more than 3,000 persons.

The loan has been provided as a part of the investment project "Core loan for SMEs and mid-cap companies."

The agent of the Ministry of Finance in the funds distribution is the state-owned Ukreximbank.
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