On December 15, Ukraine’s Credit Agricole Bank signed a EUR 40 million hryvnia equivalent risk-sharing agreement with the International Finance Corporation (IFC) under the IFC Small Loan Guarantee Program to empower Ukrainian businesses, the bank said in a release on Thursday.
“This will allow the bank to support investments by micro, small and medium-sized enterprises (SMEs), in particular in the agricultural sector, which are crucial for the sustainability of the country’s economy,” the statement said.
It is specified that the agreement was signed under the IFC Small Loan Guarantee Program, which is supported by the European Commission through the European Fund for Sustainable Development. The project is part of the IFC’s $2 billion Economic Resilience Action (ERA) program to support Ukraine’s private sector.
According to the National Bank of Ukraine, as of October 1, 2023, Credit Agricole Bank ranked 11th in terms of total assets (UAH 100.36 billion) among 63 operating banks in the country, with 141 outlets. The bank is fully owned by French Credit Agricole SA.
