Accordbank has opened a $5 million credit line for the Ukrainian defense-industrial complex company General Cherry, and the received financing will allow the company to expand production capacities and execute new contracts in the field of defense technologies.
"For us, this is an effective tool for rapid scaling of production under conditions of war. The demand for Ukrainian drones is growing, and such partnerships allow us to promptly increase the output of technologies that work directly on the front line," founder of the company Yaroslav Hryshyn said.
Accordbank notes that lending is part of a long-term strategy to support Ukrainian defense-tech enterprises. The bank provides such companies with comprehensive financial services – from cash management services and bank guarantees to development financing, foreign exchange support, and support for export contracts.
"We strive to be the bank that best understands the needs of defense-tech enterprises. That is why we invest in expertise, speed of decision-making, and financial tools that help Ukrainian manufacturers scale, develop technologies, and strengthen the defense capability of Ukraine," Chairman of the Board of Accordbank Oleksiy Rudnev said.
The products of General Cherry company are supplied to more than 200 military units, and its production capacities allow for the production of 100,000 drones monthly.
