On May 2, the World Bank’s Board of Executive Directors approved $ 150 million disbursement to the State Export-Import Bank of Ukraine (JSC Ukreximbank) in the framework of Access to Long Term Finance Project.
The aforesaid Project sets an ambitious target to upgrade an access of Ukrainian export-oriented small and medium enterprises (SMEs) to scarce a long-term resources for financing investments and current capital. The Access to Long Term Finance Project is a part of Partnership Strategy between Ukraine and the World Bank for 2012-2017.The Project stipulates for approach seek to increase the access to medium and long term export financing. The JSC Ukreximbank will obtain disbursements and is to provide sub-loans to participating banks which, in turn, will pass on the financing to various SMEs in Ukraine.
Access to longer term finance for small and medium enterprises will enable them to unleash business capabilities. Hence, will provide an impetus to boost exports and contribute to reviving economic growth in the country.