4

World bank emitted $150 mln loan for Ukraine

Wed, 03.05.2017 07:26



The World Bank's Board of Executive Directors on May 2 approved a US$ 150 million loan for the Access to Long Term Finance Project that will support Ukraine's export-oriented small and medium enterprises (SMEs), according to the World Bank's press service.

"Ukraine has creative and unique business potential and can produce high-quality competitive goods," said Satu Kahkonen, World Bank Country Director for Belarus, Moldova, and Ukraine, the press service reports.

"However, many obstacles limit Ukraine's ability to export. Lack of quality financing is one of them.Access to longer term finance for small and medium enterprises will help the country grow its exports and contribute to reviving economic growth in Ukraine," he added.

The Joint Stock Company Ukreximbank is expected to implement this project by providing sub-loans to participating banks which, in turn, will pass on the financing to various SMEs in Ukraine. The SMEs will be selected on the basis of their financial health and capacity to develop a sound business export model.

Source: UNIAN

Leaving your comment, please remember that the content and tone of your messages can affect the feelings of people, directly or indirectly related to the news. Please, take respect and tolerance to your interlocutors even if your views are opposite.
Opinions expressed below do not reflect the opinions of SP "Ukraine in Arabic," they only reflect the views of the author.



Partner news

Loading...

Search us in Facebook

Partner news