KYIV. Nov 22 (Interfax-Ukraine) – The German-Ukrainian Fund (GUF) is ready to invest EUR 18 million in the development of small and medium enterprises in Ukraine (SMB), according to the website of the National Bank of Ukraine (NBU), with reference to the director of the financial controlling department, executive director of the fund Oleh Strynzha.
“The National Bank supports the government’s strategy for the development of small and medium-sized businesses until 2020. The fund capitalization allows it to become an effective national instrument for financing SMB in Ukraine by attracting external credit lines at low interest rates and financing partner banks for lending to targeted areas of SMB development,” he said.
The banker noted the updated comprehensive program of financial sector development until 2020, which is now being revised by the NBU, will include targets to resume lending, in particular measures to simplify obtaining financing by Ukrainian businesses, as well as addressing the issues of enterprises’ bad debts.
The NBU said the Ministry of Economic Development and Trade on November 17 represented the strategy for the development of small and medium enterprises in Ukraine until 2020, developed with the support of the European Union.
