Raiffeisen Bank Aval (Kyiv) has issued a loan in the national currency for UAH 400 million to the International Finance Corporation (IFC).

According to the website of Raiffeisen Bank Aval, the loan is granted for eight years.

The IFC will use the funds raised to finance the investment projects of Ukrainian companies.

"We are working to expand the access of Ukrainian companies to necessary financing and extend the term of resources in the market. Auchan Retail company has already received our first loan in the hryvnia. We are ready in future to provide financial products in the national currency structured taking into account the individual needs of the client. This is an important part of the IFC's broader work in Ukraine aimed at supporting private sector growth and creating new opportunities for Ukrainian companies," IFC Regional Head for Ukraine and Belarus Jason Pellmar said.

"We are sure this is a landmark agreement for Ukraine, which everyone was waiting for in the market and which expands the opportunities of Ukrainian companies for attracting long-term financing in the national currency," the head of the department for work with financial institutions at Raiffeisen Bank Aval, Viktoria Masna, said.

Raiffeisen Bank Aval and the IFC have been cooperating on a number of projects since 2004.