Public Joint Stock Company “State Savings Bank of Ukraine” (Oschadbank) and European Investment Bank (EIB) concluded a long-term finance contract aiming to support local private sector development in Ukraine.
The credit line will be utilized to provide mid- and long-term financing to SME and Mid-Cap customers that satisfy EIB requirements. Up to 30% could be allocated to finance other private companies which projects are in line with EIB’s priorities, i.e. development of social and economic infrastructure (including transport, energy efficiency and renewable energy, environmental infrastructure, information and communication technology), climate change mitigation and adaptation, local private sector development.
“I welcome that the EIB funds will support further development of the local private sector by improving the access of small and medium sized entrepreneurs, as well as mid-sized corporates, to long term finance”, Mr.László Baranyay, EIB Vice-President commented. “We are pleased to join forces with a well-established financing institution that has an extensive coverage in the local market and a long history as major lender to the Ukrainian economy”.
“SME sector development is highly prioritized by the Oschadbank’s strategy and we are happy to launch this program with the European Investment Bank. We also appreciate the opportunity to start partnership with the leading international financial organization and are confident that such cooperation will contribute to the private sector development in Ukraine” - Mr. Denys Kiryeyev, First Deputy Chairman of the Management Board of Oschadbank said.
Public Joint Stock Company „State savings bank of Ukraine” is one of the largest state-owned banks in Ukraine with the most widespread branches network. The Bank operates actively in all financial sectors. The largest companies of Ukraine are found themselves among its clients. JSC Oschadbank is the only bank in Ukraine where money of individuals, trusted to the Bank, is guaranteed by the state by law. JSC Oschadbank is the most reliable bank according to the „Korrespondent” magazine and the investment company Dragon Capital. License of the National Bank of Ukraine as of 05 October 2011 № 148. Official web-site – http://www.oschadnybank.com. Contact centre: 0 800 210 800.
Oschadbank Press Service