Ukrainian President Petro Poroshenko has signed a bill on the ratification of the Guarantee Agreement (a draft access to long term finance project) between Ukraine and the International Bank for Reconstruction and Development (IBRD) passed by the Verkhovna Rada on April 5. “The agreement creates a legal framework for the development of cooperation between the parties, involving long-term investment resources in the economy of Ukraine in the amount of $150 million under state guarantees. The document calls for Ukreximbank to receive loans from the International Bank for Reconstruction and Development to provide Ukrainian small and medium-sized enterprises (SME) with medium and long-term financing for production needs: investment lending and working capital financing,” the press service of the President of Ukraine said last week.
The implementation of the access to long term finance project will have a positive impact on the development of SME, expansion of production capacities of the real sector, preservation of existing and creation of new jobs.
