EBRD extends USD 55 million to support Ukrainian business
2014-02-04 10:51:21
PJSC Raiffeisen Bank Aval will receive USD 55 million from the European Bank for Reconstruction and Development (EBRD) for the financing of small and medium-sized enterprises (SMEs) in Ukraine.
The EBRD press release informs.
"The new program of SME lending to the amount of USD 55 million will be realized through PJSC Raiffeisen Bank Aval," a statement reads.
The EBRD is the largest financial investor in Ukraine. As of January 1, 2014, the bank undertook to provide USD 11.9 billion within the framework of 321 projects in the country.
The SMEs in Ukraine account for 15% of GDP, compared with 47% in Poland and 40% in Turkey.