UKRGASBANK has signed the Memorandum on strategic partnership and cooperation with German-Ukrainian Fund

On the 1st of February at the Ministry of Finance the Memorandum on strategic partnership and cooperation between the JSC “Ukrgasbank” and the German-Ukrainian Fund (GUF) aimed to develop the existing and to implement new attractive loan programs for micro, small and medium-sized business in Ukraine was signed.

Deputy Minister of Finance Yuriy Butsa, First Feputy Chairman of the Board of the JSC “Ukrgasbank Andriy Kravets, Executive Director of the German-Ukrainian Fund (GUF) Oleg Strynzha and Director of KfW Ukraine Lutz Horn-Haacke participated in the event.  

“The German-Ukrainian Fund is one of the important tools for the Government of Ukraine to support small and medium-sized business. We are keen to use available resources as effectively as possible. For example, the cooperation with JSB “Ukrgasbank” will let us effectively use the resources provided by the Fund for the support of agricultural companies and energy-efficiency projects. The administration office for international financial cooperation projects which backs up the Fund activities is working to further expand the relevant project portfolio”, Deputy Minister of Finance Yuriy Butsa said.

UKRGASBANK is leader by value of financing micro, small and medium-sized business upon GUF’s programs. Cooperation between Ukrgasbank and German-Ukrainian Fund began in 2012 and during this time more than 274 loans amounting to UAH 243 million were advanced. At 2016 year-end loan agreements were concluded under which funding provided by the German-Ukrainian Fund was doubled.

“The Ukrgasbank is now one of the most active partner banks of the German-Ukrainian Fund and we highly appreciate our cooperation with them. Having signed the Memorandum, the GUF is striving to expand its partnership with the Ukrgasbank as a part of new loan programs for the support of small and medium-sized business which makes it possible to increase our funding volume to the bank to 9 million Euros in the first half of 2017. We wish the Ukrgasbank success in the loan supply to small and medium-sized business which shall contribute to the resumption of bank loans in Ukraine and development of small and medium-sized business in Ukraine”, executive director of the GUF Oleg Strynzha said.

GUF programs are aimed to support the real-economy sector which is the development and employment motor of the world’s leading economies. They offer special loan terms favorable for micro, small and medium-sized business including the possibility to receive a loan to increase the working capital (for up to 3 years) as well as for investments (for up to 5 years).

“We highly appreciate our long-lasting cooperation with the Ukrgasbank and the GUF, and the continuing cooperation between the Ukrgasbank and the GUF is a proof for its positive results. The Ukrgasbank continuously pays attention to the development of small and medium-sized business by striving to ensure optimal working conditions in the sector which is so important for the economy of our country. And we are grateful to the Fund for this cooperation which enables us to reduce financing costs, improve the affordability of loans and poses a real contribution to the development of business in Ukraine”, first Deputy Chairman of the Board of the Ukrgasbank Andriy Kravets said.

01.02.2017