EBRD, EU providing up to EUR 70 mln credit line to three Ukrainian banks to support local SME

11:16, 08.10.2019 1 min read

Raiffeisen Bank Aval, ProCredit Bank and OTP Bank (all based in Kyiv) have signed a credit line agreement with the European Bank for Reconstruction and Development (EBRD) and the European Union (EU) for the total amount of up to EUR 70 million in hryvnia equivalent under the SME (small and medium-sized enterprises) Finance Facility of the EU4Business initiative.

An Interfax-Ukraine correspondent has reported that the signing ceremony took place at the EBRD office on Tuesday.

In particular, Raiffeisen Bank Aval will receive a credit line with the limit of EUR 25 million in hryvnia equivalent, ProCredit Bank – EUR 20 million in hryvnia equivalent, and OTP Bank – EUR 25 million in hryvnia equivalent.

The total limit of the facility is EUR 120 million in hryvnia equivalent.