Thousands of Ukrainian SMEs are to benefit from a €60 million EU-oriented credit line

Thousands of Ukrainian SMEs are to benefit from a €60 million EU-oriented credit line launched Friday by the EBRD and EU4Business. Available for privately owned businesses with less than 250 employees, the credit line is to help small and medium businesses export to the EU. Initially, €10 million will be administered by OTP Leasing Ukraine and €22 million by UkrEximBank. Matteo Patrone, EBRD regional director, said the line “provides local SMEs, which create almost 80% of jobs in the country but currently are responsible for only about 40% of GDP, with additional access to finance so they can develop further, become more competitive and comply with EU standards.”