• Українською
  • Representatives of the Ministry of Finance and the German Development Bank KfW reviewed portfolio of joint projects
    Ministry of Finance of Ukraine, posted 08 April 2021 18:13

    On April 8, the second review of the KfW's portfolio in Ukraine was held with the representatives of the German Embassy, the Secretariat of the Cabinet of Ministers of Ukraine, the Ministry of Finance, and other state authorities and institutions.

    During the discussion, it was noted that within the framework of cooperation between the Government of Ukraine and KfW three investment projects amounting to EUR 207.5 million are being implemented, of which EUR 53.38 million (25.7%) was used as of April 1, 2021.

    The online meeting participants have highlighted the successful implementation in Ukraine of grant projects supported by KfW. For instance, within the program "Financе East" the Foundation for Enterprise Development has been actively implementing the project "EU Support for Eastern Ukraine", aimed at the financial support of micro, small and medium enterprises (MSME) through the partner institutions of the Foundation (LLC "OTP Leasing", JSC "Oschadbank" and JSB "Ukrgasbank"). Since the start of the project partner institutions have financed 119 MSMEs, and also compensated the cost of 271 units of various techniques, equipment, etc. purchased by entrepreneurs, in total worth UAH 602.5 million.

    During his speech Deputy Minister of Finance - Olexandr Kava thanked the representatives of the German Government, the German Embassy in Ukraine, and the KfW for the support and significant contribution to the development of the energy sector, infrastructure, energy efficiency, and entrepreneurship, as well as social infrastructure in Ukraine.

    "I am sure that the conclusion of the bilateral framework intergovernmental agreement will provide the necessary impetus for more effective cooperation and preparation of both credit and grant projects and the transition to their implementation", - the Deputy Minister stressed.

    In addition, Oleksandr Kava said that today the Ministry of Finance is actively working on the ratification of the Framework Agreement between the Government of Ukraine and the Government of the Federal Republic of Germany on the Financial Cooperation concluded on December 17, 2020, by the Parliament of Ukraine.

    Background

    KfW is a state-owned bank of the Government of Germany and the leader among German banks in the promotion of economic development of Germany, Europe, and the world. KfW's headquarters is in Frankfurt on Main and representative offices are in Berlin and Bonn.

    KfW's areas of activity: supporting small and medium-sized businesses; general loans; construction and energy conservation, environmental protection; financing social infrastructure (water, energy, education, health, etc.); export and project financing; tasks of public interest; refinancing.