09:36 20.04.2021

Cabinet approves project to raise $ 100 mln loan from IBRD for export-oriented SMEs – Finance Ministry

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Cabinet approves project to raise $ 100 mln loan from IBRD for export-oriented SMEs – Finance Ministry

The Cabinet of Ministers at an extraordinary meeting on April 19 approved a project to attract a $ 100 million loan from the International Bank for Reconstruction and Development (IBRD) for export-oriented small and medium-sized enterprises (SME), the Ministry of Finance said.

"Today, on April 19, 2021, the has government adopted a resolution on some issues of the implementation of the joint investment project with the IBRD on additional financing to counter COVID-19 within the framework of access to long-term financing, the Finance Ministry's website said.

The additional financing project provides for a loan from the IBRD in the amount of $ 100 million to provide export-oriented SMEs with access to long-term financing, the ministry explained.

The Ministry of Finance notes an increase in demand from potential financial institutions participating in the project amid the coronavirus crisis.

At the same time, the government supported the draft presidential decree on the creation of a Ukrainian delegation to participate in negotiations with the IBRD and authorized the chairman of the board of Ukreximbank to sign the guarantee agreement between Ukraine and the IBRD, the Ministry of Finance said.

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