EIB provides Raiffeisen Bank Aval with EUR 12 mln in guarantees to support SME

11:36, 28.12.2017 1 min read

 The European Investment Bank (EIB) has provided Raiffeisen Bank Aval (Kyiv) with EUR 12 million in guarantees for the support of lending of small- and medium-sized enterprises (SME).

The decision was approved on December 22, 2017, the EIB said on its website.

The guarantees are provided as part of the Ukraine-EU Association Agreement and the Deep and Comprehensive Free Trade Areas (DCFTA).

The total volume of the loan project is estimated at EUR140 million, it said.

No other details of the project are mentioned.

Raiffeisen Bank Aval was founded in 1992. As of January 1, 2017, Raiffeisen Bank International (RBI, Austria) owned 68.27% of the Ukrainian bank's charter capital, while the European Bank for Reconstruction and Development (EBRD) held 30%.

Raiffeisen Bank Aval ranked fifth in terms of assets worth UAH 66.102 billion among 88 operating banks as of October 1, 2017, according to the National Bank of Ukraine.