KYIV. April 7 (Interfax-Ukraine) – American investment company Western NIS Enterprise Fund (WNISEF) and state-controlled Oschadbank (Kyiv), with the support of the U.S. Agency for International Development (USAID), have launched a program of lending to social enterprises, providing for total crediting in the amount of UAH 100 million over the next three years.
According to a state bank press release, the source of funding loans is the USAID technical assistance program worth $30 million, whose executive is WNISEF.
“The program guarantees that the rate on loans for conventional social enterprises (whose activities are focused exclusively on resolving social issues) will not exceed 5% per annum and for those who spend a significant part of their profit on financing social enterprises or socially useful activity no more than 10% per annum,” reads the report.
According to the report, the amount of one loan varies from UAH 250,000 to UAH 2.5 million. It is envisioned that from150-300 loans will be issued.
