Piraeus Bank joined 17 leading financial institutions by signing a memorandum in Kyiv on bank lending for rebuilding energy infrastructure projects in the war-torn country. This pivotal step reaffirms the bank’s unwavering commitment to financing the advancement of distributed and renewable energy and energy-efficient technologies crucial for national security.
“Our contribution to the resilience of the Ukrainian economy during these challenging times opens up unprecedented opportunities for the sustainable development of the energy sector,” said the Chairman of the Board of Piraeus Bank in Ukraine, Yannis Kyriakopoulos.
Financing from a bank originating from Greece that has been working in Ukraine since 2007 will be made available for businesses engaged in constructing solar, wind, biogas, gas turbine, gas piston power plants, industrial batteries, and cogeneration plants. Micro and small businesses can also access loans for energy-efficient doors and windows, solar panels, and more.
The loan amounts will vary based on the business segment:
- Micro business: Up to €5M
- Small business: €1-1.5M
- Medium and large business: €10-25M
Clients must contribute between 10% and 50%, depending on the project size, equipment costs, and other factors. Loans will be granted for terms of up to five to seven years.