German-Ukrainian Fund signed a memorandum of cooperation with the Ukrainian lender Oschadbank. On the eve of this information was posted on the NBU website, which also contains excerpts from the press release of the fund. According to the original source, the collaboration of investors will focus on the maintenance of small and medium-sized businesses. The following year, growing companies will provide an opportunity to participate in several Programs related to SME financing.
The project involves the provision of loans under the loyal interest rates for the development of different kinds of enterprises. Recall that now the average rate on the loan business is from 18% to 19%. According to a press release of the fund, in the future this figure plan to downgrade. In turn, the executive director of the German-Ukrainian Fund Oleh Strynzha also notes that macroeconomic stabilization and reduction of the NBU discount rate proved to be an effective tool to reduce the impact of interest rates on the interbank money market. This allows banks to make loans less expensive.
German-Ukrainian Fund (GUF) is non-bank financial institution, the primary objective of which is to promote the development of small and medium-sized businesses. The organization was established in 1999. It is composed of the National Bank (31.3%), the Ministry of Finance of Ukraine (31.3%) and the German state financial group KfW Bankengruppe (37,4%).
Also read: Bank Khreshchatyk repaid the debt to the NBU anticipatorily
The Fund for Economic Stability (WSF), created by the German government, saved the largest German airline from bankruptcy after the collapse of air traffic in March 2020 with billions of infusions, but now there is a way out of the crisis, the concern said. Lufthansa intends to return to the state by the end of […]
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In 2021, Russia’s Gazprom supplied 20.3 billion cubic meters of gas to Turkey, which is the maximum figure in less than nine months. This was reported by the company’s press service following a meeting of its chairman Alexei Miller with Turkish Minister of Energy and Natural Resources Fatih Donmez on Monday, September 20. At the […]
According to the updated data of the State Statistics Service, Ukraine’s GDP growth in the second quarter of 2021 was 5.7% in annual terms, which is 0.3% higher than the previous estimate. In particular, for six months the nominal GDP was UAH 1 trillion 169.4 billion, and per capita – UAH 28.19 thousand. Compared to […]
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Ukraine plans to privatize 737 state-owned enterprises during 2021-2023. The Ministry of Economy published the list of objects for sale. Although some companies will be able to sell only after the amendments to the legislation. In particular, such large enterprises as Centerenergo, the United Mining and Chemical Company, Turboatom, the Zaporizhia Titanium and Magnesium Plant, […]
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The Tesa company (LLC) sold shares of Investbank to Alexey Kotovskyi. There was a requirement of the National Bank ownership structure. This was announced on the bank’s website. At the moment Alex Kotovskij owns 41.2% of the share capital of the bank. The financial institutions report says that the National Bank held an additional issue […]
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International financial company Fairfax Financial Holdings Limited (Toronto headquarters, Canada) purchased 9.99% of shares of agricultural Ukrainian holding Astarta, which is the flagship of the domestic sugar market, which also is one of the largest provider of milk in the country. In addition,a new owner of shares acquired the right to purchase the remaining interest […]
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Shares of cruise company Royal Caribbean, which decreased by 57% since the beginning of the year, rose for the last quarter and closed with an increase of 10% to $ 57.31 per share on Monday after the publication of the financial results of the second quarter. Investor`s optimism is based on Royal Caribbean management’s statements […]
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In 2021, the Ukrainian economy will grow by 4%. This is stated in the updated IMF forecast. At the same time, next year growth will slow to 3.4%. Inflation in Ukraine is expected to increase to 7.9% in 2021 after declining to 2.7% in 2020, and to 6.8% in 2022. The current account surplus of […]
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