EBRD develops local currency lending to SMEs in Ukraine

The EBRD is providing fresh funds to develop local currency lending and SME support mechanisms in Ukraine. The use of local currency gives greater comfort to potential borrowers, who will not be exposed to foreign exchange risks.

The EBRD is providing a four-year local currency loan in Hryvnia (UAH) worth US$ 25 million equivalent to PJSC ProCredit Bank Ukraine (PCBU).Grant funding provided through the EU Neighbourhood Investment Facility will help reduce the interest rate cost of the foreign exchange (FX) risk hedge in order to achieve better cost of funding in local currency (UAH).