KYIV. Oct 6 (Interfax-Ukraine) – Ukrgasbank and Megabank have become subagents of the project of the European Investment Bank (EIB) for lending to small and medium-sized enterprises in the amount of EUR400 million, according to a press release from the Finance Ministry of Ukraine.
According to the report, the corresponding agreements with the banks were signed by the ministry on October 5.
Under the terms of the agreement with the EIB, the Ministry of Finance, with the assistance of Ukreximbank, provides credit funds to the selected participating banks to finance Ukrainian enterprises.
Lending is designed for five years with the possibility of further extending the period of using EIB lending resources.
The Verkhovna Rada of Ukraine ratified the financial agreement between Ukraine and the EIB on a loan of EUR400 million for small and medium-sized enterprises on July 15, 2015.
The Ministry of Finance attracted long-term loans from the EIB for financing small and medium-sized business projects, as well as socio-economic infrastructure projects, including those on energy efficiency, mitigation of climate changes and adaptation to them.
