German-Ukrainian Fund will launch a new program to support the business

German-Ukrainian Fund will launch a new program to support the business

29.12.2016 News

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

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