State-run Oschadbank and German-Ukrainian Fund (GUF) have signed a memorandum of strategic cooperation. The bank would receive a credit line to finance micro-, small- and medium-sized enterprises (MSME), the bank has said in a press release.

The bank would receive technical assistance to develop banking products and modernize crediting processes for MSME.

The bank has not specified the size of the credit line.

The program envisages support of business via consultations on doing business in Europe. Crediting of energy efficient projects and clean energy will be under a different program.

"Partnership with Oschadbank would help to considerably expand geography and presence of GUF programs to support financing of MSME all over Ukraine thanks to the branchy network of Oschadbank. Development of micro crediting procedures and technologies in Oschadbank would help to cut the cost of credits for MSME and credit rates. It would increase accessibility to them," GUF executive director and director of the financial controlling department at the National Bank of Ukraine (NBU) Oleh Strynzha said.