Ukreximbank, World Bank preparing new program to fund small, medium-sized exporters
Kyiv-based Ukreximbank is actively preparing a new project jointly with the World Bank on providing access to long-term loans to Ukrainian export oriented small and medium-sized enterprises (SME), according to a posting on the Ukreximbank's website.
"The Long Term Finance Project (ALTF) Project will provide long term investment and working capital finance to Ukrainian export oriented SME," the bank said.
Ukreximbank will act as the direct borrower of the World Bank funds and the implementing agency of ALTF Project. Ukrainian commercial banks are expected to be involved in the ALTF Project implementation as financial intermediaries.
All sub-projects financed under the ALTF Project will be subject to an environmental and social assessment of compliance with the Ukrainian and World Bank environmental regulations utilizing the procedures described in Ukreximbank's Environmental and Social Management Framework.
After drawing up the ALTF Project jointly with Ukrainian governmental authorities, it will be presented to the World Bank Board of Executive Directors for consideration and approval by the end of the first quarter 2017.