Loans for SMEs: Ukrainian entrepreneurs learn about new sources of financing

Financial Fair in Kyiv

On 16 April 16, the Third Financial Fair for representatives of small and medium-sized businesses of Ukraine took place in Kyiv with hundreds of participants from SMEs as well as representatives of the financial sector and international donors. 

The event took place on 16 April at the ‘Parkovy’ Congress and Exhibition Centre in Kyiv. The organiser was the German-Ukrainian Fund (GUF) with financial support from the German Government and the KfW Development Bank. The format of the event included a conference and a networking zone.

At the fair, partner-banks presented their financial proposals for small and medium-sized businesses. They included JSC "PROCREDIT BANK", AB "UKRGASBANK", PJSC "MEGABANK", JSC "OSCHADBANK", JSC "CREDITWEST BANK", JSC "KREDOBANK", PJSC Bank "LVIV", and OTP LEASING.

Representatives of SMEs in Ukraine learnt about the SME programmes financed by the German Development Bank KfW and the EU through its EU4Business initiative, and the role of local governments in developing small and medium businesses.

“I am happy to announce a new chapter of support to Ukrainian SME. The target of our project is to restart lending and to rebuild mutual trust between SME and financial institutions on the territory of Donetsk and Lugansk regions,”said Lutz Horn-Haacke, Director of KfW Office in Ukraine.

The German-Ukrainian Fund supports access to finance through the EU4Business SME Finance Facility, implemented by the GUF, with funding from the EU and Germany through the German Development Bank KfW. The emphasis in Phase II of the SME Finance Facility is to stimulate local currency lending, especially for micro, small and medium-sized enterprises (MSMEs) in Ukraine that are not earning foreign currency and cannot afford the high costs of borrowing.