The active stage of selection of banks for participation in the joint Ukraine and the European Investment Bank (“the EIB”) Project of the Euro 400 million APEX Loan for SME’s and Mid-Caps (“the Loan”), has been launched.

The Ministry of Finance of Ukraine, in cooperation with Ukreximbank as the Agent appointed under the Project, shall direct funds of the EIB Loan to the Ukrainian commercial banks to finance private sector development projects, primarily those of small and medium-sized businesses, as well as social and economic infrastructure, energy efficiency and environment protection projects. The Loan’s long term funds will allow the participating banks both finance investment projects and satisfy working capital needs of their clients.

Ukreximbank Chairman of the Board, Oleksandr Hrytsenko, commented: “The long-standing successful partnership of the state-owned Ukreximbank with the European Investment Bank and other international financial organizations in implementing joint projects in SME support, export development, energy efficiency and renewable energy ensures our proficiency to perform the agency tasks for the Ministry of Finance under the Project in a good manner. Ukreximbank engages its highly-qualified personnel and provides methodology support for successful implementation of the Project for the benefit of the local financial sector development and financing of entrepreneurship.”