Today, on December 21, 2022, the Ministry of Finance of Ukraine hosted the signing of the Loan Agreement between the Entrepreneurship Development Fund (EDF) and JSB "UKRGASBANK" in the amount of UAH 150 million within the framework of the project "Refinancing of energy efficient investments of SMEs in Ukraine through the financial sector" (hereinafter - the Project).
The project is financed by the German Government through the German Development Bank KfW in accordance with the Loan and Grant Agreement concluded with the Ministry of Finance of Ukraine and the Entrepreneurship Development Fund.

"The Ministry of Finance continues to actively attract funds from our international partners to support Ukrainian entrepreneurs. Within the framework of the new project of the Entrepreneurship Development Fund, KfW loan funds will be allocated to Ukrgasbank to finance SME investment projects in the field of energy saving and energy supply. This is especially important in the conditions of rolling blackouts and will contribute to the uninterrupted operation of business and the preservation of jobs at small businesses", said Deputy Minister of Finance of Ukraine for European Integration, Chairman of the Board of the Entrepreneurship Development Fund Yuriy Draganchuk and expressed his gratitude to the German Government and the German Development Bank KfW for their systematic support of Ukraine.

The Project will also introduce new approaches to lending to small and medium-sized enterprises based on international environmental and social standards of the Sustainable Development Financing Policy.

"KfW will continue to support Ukrainian SMEs to survive in these extremely difficult conditions and ensure the functioning of their production in the absence of sufficient energy supply. In addition, we are ready to expand our cooperation with our long-standing partners - the Ministry of Finance of Ukraine, the Entrepreneurship Development Fund and UKRGASBANK", said Dr. Bianca Clausen, Head of Sustainable Economic Development and Education for Eastern Europe, Caucasus, Central Asia, Southeast Europe and Turkey at KfW.

Lending for energy-efficient investments in SMEs will be in local currency, which is made possible thanks to financial assistance from the European Union under the EU4Business initiative to compensate for currency risks and with the possibility of combining with the Affordable Loans at 5-7-9% Programme.

"Thanks to the financial support from the European Union, the Entrepreneurship Development Fund is able to offer Ukrainian banks and SMEs a credit resource in the national currency, which can be combined with the State Program Affordable Loans at 5-7-9% to ensure the availability of energy-efficient investments for SMEs in a rather difficult time," said Andrii Gapon, Executive Director of the Entrepreneurship Development Fund.

"UKRGASBANK has the necessary tools and competence to promptly review and evaluate energy-efficient investments of SMEs, which will ensure prompt and high-quality implementation of the Project", said Andrii Kravets, Chairman of the Board of JSB "UKRGASBANK".