Ukraine: EFSE Partners with PJSC Kredobank by Investing in SME-dedicated Local-currency Bonds
The European Fund for Southeast Europe (EFSE) has provided financing in Ukrainian hryvnia (UAH) equivalent to EUR 10 million to the Lviv-based PJSC Kredobank. This includes a UAH 250 million (equivalent to EUR 8.2 million) investment in local bonds issued by the bank, making it the largest non-government bond investment in Ukraine in 2018.
With a strong presence in Western Ukraine, Kredobank stands out as a top provider of micro and small enterprise (MSE) financing with a special focus on serving agricultural businesses. The dedicated funding provided by EFSE will enable the bank to offer longer-term financing to MSEs in local currency and will support the bank in increasing its outreach nationwide.