Raiffeisen Bank received a $40M loan portfolio guarantee from the DFC. It allows the bank to provide loans of up to $50M to small and medium-sized businesses in Ukraine over the next eight years. The guaranteed contract was concluded with technical support from USAID. Under the terms, the DFC will cover up to 80% of the non-repayment risk for loans that Raiffeisen Bank will issue as collateral to borrowers who meet the established requirements.
“Enterprises will be able to get loans to replenish working capital and finance long-term investment projects, which will help to restore the Ukrainian economy, stimulate exports, and create new jobs,” believes Oleksandr Pisaruk, Chairman of the Board of Raiffeisen Bank.
The DFC has already supported several projects in Ukraine worth a combined $400M. In particular, $250M has been allocated to support the efforts of Ukrainian poultry farmers and grain producers to mitigate the consequences of Russia’s war against Ukraine.