As part of a 2013 agreement, the European Investment Bank (EIB) recently provided a second installment payment to Sberbank in the amount of $85 million to support small and medium businesses in the Ukraine.
Ukraine’s open line of credit for these small and medium enterprises is $283 million. The first payout was for $89.5 million. The loan is specifically for private, small businesses with 250 or fewer employees, or mid-cap companies with 250 to 3,000 employees. Some companies that do not fall within those parameters, but have a project that meets the priorities of the EIB, will be considered.
"We appreciate the support of the European Investment Bank in such a difficult time for Ukraine. Especially in need of small and medium businesses," Sberbank CEO Andrei Gingerbread said.
He went on to say that the second payout showed the EIB's "sincere solidarity with Ukraine EIB and the processes of change taking place in the national economy."