GUF issues EUR3.5 mln, UAH 23 mln to Ukrgasbank for lending to small and medium business

16:48, 30.12.2016 1 min read

The German-Ukrainian Fund (GUF) has provided state-controlled Ukrgasbank (Kyiv) with additional funding in the amount of EUR3.5 million and UAH 23 million for lending to small and medium businesses, the bank said on its website.

According to the report, a relevant agreement with the GUF was signed on December 28, 2016.

Financial resources are given to Ukrgasbank for five years. Their value allows reducing the interest rate for lending to small and medium-sized businesses.

Ukrgasbank in cooperation with the GUF in 2016 issued 129 loans worth more than UAH 120 million.

Ukrgasbank was created in 1993. By January 2016 the state owned 94.9409% of its shares.

Ukrgasbank ranked fourth among 100 operating banks in the country on October 1, 2016 in terms of assets (UAH 57.909 billion), according to the National Bank of Ukraine.