EIB ready to allocate EUR 700M to Ukraine to support SMEs - Shmyhal

EIB ready to allocate EUR 700M to Ukraine to support SMEs - Shmyhal

The European Investment Bank (EIB) is ready to allocate 700 million euros to Ukraine for the development of small and medium-sized businesses, Prime Minister of Ukraine Denys Shmyhal has said.

"The bank has expressed its readiness to allocate 700 million euros for credit assistance, in fact, these are loans with a zero rate, 0.12% per annum to support small and medium-sized enterprises in Ukraine," Shmyhal said during an hour of questions to the Government held in the Verkhovna Rada, an Ukrinform correspondent reports.

He added that the Finance Ministry would work to obtain appropriate funds from the EIB and focus on business support.

As reported on February 12, Prime Minister Denys Shmyhal and President of the European Investment Bank Werner Hoyer agreed on the allocation of 50 million euros for the purchase of vaccines for the Ukrainian people and modern refrigeration equipment for the network of vaccination centers.

The parties also signed a Guarantee Agreement for the development of Boryspil Airport to obtain a loan of EUR 270 million for the reconstruction of flight zone No.2.


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