Bank Lviv (Lviv) has signed agreements with the European Investment Bank (EIB), the European Investment Fund (EIF), the Belgian Development Organization for Developing Countries (BIO) and the Bank of the Council of Europe (CoE) totaling EUR 103 million, which will allow it to expand financing to the private sector through credit lines, guarantees and support for micro-entrepreneurs.
“Within the framework of international partnerships, Lviv Bank has signed four strategic agreements with international financial institutions – for a total of more than EUR100 million to support Ukrainian private companies, SMEs and entrepreneurs!” Volodymyr Kuzio, deputy chairman of the bank’s board, said on Facebook on Tuesday.
He noted that Lviv Bank has attracted EUR 60 million from the EIB in the form of a multi-currency credit line, including local currency financing, to improve access to finance for the private sector.
Another EUR 35 million was provided by the EIF in the form of portfolio guarantees, which will reduce collateral requirements for Ukrainian private sector clients to 70% and at the same time strengthen the capital of Bank Lviv.
In addition, the bank will receive EUR 5 million from the Belgian development organization BIO, the first transaction in the institution’s history in Ukraine.
Another EUR 3 million is being provided by the Council of Europe Development Bank to support micro-entrepreneurs across the country.
According to the National Bank of Ukraine, as of April, Lviv Bank ranked 23rd in terms of total assets among 60 operating banks with UAH 14.8 billion, or 0.4% of the banking sector.
