Govt approves raising of up to EUR 30 mln by two Ukrainian banks from EIB – PM

19:11, 10.05.2024 1 min read

The Cabinet of Ministers of Ukraine has approved the attraction of up to EUR 30 million by Ukrgasbank and ProCredit Bank (both based in Kyiv) from the European Investment Bank (EIB), Prime Minister Denys Shmyhal announced.

"Today, we will make a decision that will allow two Ukrainian banks to attract up to EUR 30 million from the European Investment Bank. These funds will be directed towards supporting Ukrainian small- and medium-sized businesses by improving the conditions for preferential lending," Shmyhal said at a government meeting on Friday.

As reported by the Cabinet's representative to the Verkhovna Rada, Taras Melnychuk, in Telegram, the government of Ukraine has approved draft letters to the EIB regarding the confirmation of the eligibility of financing proposals by the bank for the Ukrgasbank Guarantee Facility and the ProCredit Bank Guarantee Facility within the scope of the Framework Agreement between Ukraine and the EIB dated June 14, 2005.