The companies promise long-term funding and European grants.
For Ukrainian business has opened a new loan program. It was organized by the European Commission together with the European Bank for reconstruction and development. It is designed for small and medium businesses, hence the name – “EU4Business”-EBRD, informs Rus.Media.
“The program has worked well in other countries: it is already a year or two working in Georgia, Armenia and Moldova. Therefore, it was decided to launch it in Ukraine. The project is not subject to a tight deadline – can last from year to year, unless, of course, will resonate in the business community. If the loans are in demand,” – said the lead adviser for external relations EBRD Anton Usov.
Who will give
“EU4Business”-EBRD provides loans to private Ukrainian companies, which employ up to 250 employees. The company will be able to count on a loan of $3 million. Torque – this is the main difference of the new lending from the previous projects – to date, the European Bank was known for its focus on lending in euros and dollars. That do not fit many Ukrainian companies that have no foreign exchange earnings.
Isn’t the second point, which is always cut short many borrowers, is strict requirements for the preparation of documents for credit application. Although business help in its preparation. In addition, the new credit programs of Ukrainian companies will be able to access grant programs of the European Union. These grants can cover up to 15% of the cost of credit projects. They will be able to claim a company in the food industry, medical equipment manufacturers, enterprises working with renewable energy, engineering and the like.
Credit terms within the framework of a new project can vary from 18 months to several years, depending on the product. The hryvnia rate lenders don’t divulge. But hinted that it will be below the current market rates: in the latest report of the national Bank said that in February, hryvnia lending to our business fell on average from 20.1% to 17.8% per annum.
At the start of the credits for “EU4Business”-the EBRD will provide two structures: Ukreximbank, OTP Leasing. However, over time the project can connect and other Ukrainian financial institutions. What – the European Bank is not specified. Although the market there are persistent rumors about the launch of a new lending also on the basis of the savings Bank.
Currently on a new program for businesses allocated a total of €32 million: €22 million – Ukreximbank and €10 million with OTP Leasing. Additionally, the European Commission could, however, be allocated an additional €28 million, And even this is not the last money.
“It is possible that the EC and the EBRD will consider the possibility of allocating more funds from this credit line as it is fetching. Of course, if you are experiencing increasing demand for loans from businesses,” – concluded Anton Usov.
The European Bank is not going to produce in Ukraine bonds in local currency to Fund the new program. It is expected that our currency it will receive, convert imported foreign currency into the country, and Hegira their risks with new tools.