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JSC «CREDITWEST BANK» joined the financing program of the European Investment Bank

30.12.2021
JSC «CREDITWEST BANK» joined the financing program of the European Investment Bank

On December 24, 2021, between JSC "CREDITWEST BANK", the Ministry of Finance of Ukraine and JSC "Ukreximbank" concluded a Subfinancing Agreement under the Financing Agreement between the European Investment Bank (EIB) and Ukraine dated 28.12.2015, aimed at implementing “the Basic Credit Project for the agricultural sector – Ukraine”, the total amount of which is EUR 400 million, for the purpose of further lending of enterprises in the agricultural sector of the economy of Ukraine (grains and oilseeds, fisheries (including aquaculture)).

 

JSC «CREDITWEST BANK» was selected by the EIB and the Ministry of Finance of Ukraine as one that met all the criteria and received EIB approval for the Project realization by providing financing to its clients. Selection of subprojects for financing will be carried out directly by JSC "CREDITWEST BANK" taking into account the requirements of the EIB.

 

Small and medium-sized businesses are important for the further stable development of priority sectors of Ukraine's economy, so its financial support is very important. Given that, the loan funds are directed on crediting to medium- and long-term investment needs (up to 10 years) and medium-term and long-term working capital (2 to 3 years), participation in this program will provide strong long-term support to companies in investment projects and to finance working capital.

 

*About the EIB in Ukraine

 

The European Investment Bank has been operating in Ukraine since 2007. Ukraine is the main recipient country of EIB investments among the Eastern Partnership countries, accounting for more than 60% of EIB lending activities in the region. The Bank focuses on social and economic infrastructure, transport and communications, local private sector development, energy efficiency, innovation and climate change. The EIB is currently one of the largest investors in Ukraine with a portfolio of loans and guarantees totaling more than EUR 7 billion.