The Business Development Fund (BDF) traditionally reports to entrepreneurs of Ukraine and its partners on the results of program implementation in 2021.

The BDF completed the process of transformation into a full-fledged independent financial institution. This historic event for the Fund coincided with the 25th anniversary of German-Ukrainian financial cooperation, which began on December 10, 1996 with the signing of the Grant Agreement under the German Government`s “TRANSFORM” program to support the reform process in Ukraine.

“The Business Development Fund once again united Ukraine and Germany for the development of small businesses and the financial sector of our country. This fully corresponds to the mission of the Fund and the slogan: “Uniting for growth”, which in the conditions currently experienced by Ukraine can be supplemented with: “Uniting for the Victory and reconstruction,” emphasized Minister of Finance of Ukraine Sergii Marchenko.

During the year, the BDF ensured the active and effective implementation of all programs:

• Affordable Loans at 5-7-9%;

• Affordable mortgage at 7%;

• Affordable Financial Leasing at 5-7-9%;

• Joint program of Lviv Regional State Administration and the BDF for additional interest rate compensation for SME Investment Loans in Lviv region in terms of the state program Affordable Loans 5-7-9%;

• FinancEast;

• Programs to support the financing of SME Investment Projects.

“With the beginning of the full-scale russian invasion of Ukraine on February 24, 2022, the Fund ensured the smooth implementation and improvement of existing financial support programs, becoming a key state institution for lending support to the Ukrainian economy in wartime conditions,” said Deputy Minister of Finance of Ukraine for European Integration, Chairman of the Board of the BDF Yuriy Draganchuk.

The best confirmation of the effective activity of the BDF was the growth of the loan portfolio of entrepreneurs under all programs in 2021 by UAH 60 billion, reaching a record UAH 110 billion.

“Based on the results of operations in 2021 and the conditions of a full-scale military invasion of the russian federation in 2022, it can be stated that the Fund has confirmed its institutional efficientness and the ability to quickly respond to internal and external challenges to support the financing of the economy and ensure the financial stability of Ukraine,” emphasized BDF Executive Director Andrii Gapon.

The largest amount of financing of entrepreneurs with state support was carried out under the Affordable Loans 5-7-9% State program. According to the results of 2021, this program confirmed the status of the most massive national program, and with the start of hostilities on the territory of Ukraine in 2022, it became the main driver of lending to the country's economy in the amount of more than UAH 50 billion.

We will remind that only participant of the BDF is the Government of Ukraine represented by the Ministry of Finance of Ukraine, which coordinates all aspects of the Fund's activities.