13.04.2020 JSC “CREDITWEST BANK” has received another tranche of EUR 2.162 million from the European Investment Bank (EIB) within the joint “APEX Loan to support SMEs and Mid-Caps projects”.

In November 2017 PJSC “CREDITWEST BANK” entered into the agreement with the Ministry of Finance of Ukraine and JSC “Ukreximbank” on sub-financing within the Financial Contract between the European Investment Bank and Ukraine dated 24.12.2014 aimed to implement the Project (total amount – EUR 400 million). PJSC “CREDITWEST BANK” was selected by EIB and the Ministry of Finance of Ukraine as the banking institution that meets all requirements and was approved by EIB for the implementation of the Project through providing of financing to its clients. The selection of projects for financing is performed directly by PJSC “CREDITWEST BANK” with regard to requirements set by EIB.

Within this Project the Bank has open credit line for 8 million EUR (5.162 million EUR has been already disbursed).
Small and medium businesses play significant part for further stable development of the economy of Ukraine, thus it is very important to provide financial support for these businesses.

“Supporting Ukrainian businesses is a priority of objective for the EIB in Ukraine. Such support is focused on small and medium-sized enterprises (SMEs) through credit lines designed to address the scarcity of long-term funding via our local financial partners, such as PJSC Creditwest Bank. In recent years, the EIB has made available funding in support of Ukrainian private sector businesses in excess of EUR 1bn equivalent”, said Jean-Erik de Zagon, Head of EIB Resident Representation for Ukraine.

The Bank also cooperates with international financial organizations such as The Black Sea Trade and Development Bank (BSTDB), German-Ukrainian Fund (GUF), the EUROPEAN FUND FOR SOUTHEAST EUROPE S.A. (EFSE) and TURK EXIMBANK (TÜRKİYE İHRACAT KREDİ BANKASΙ A.Ş.).

In the face of the global crisis, the Bank continues to participate in international financial programs. At the stage of implementation there are several more projects in which the Bank plans to participate.

The Bank together with its international partners is always ready to carry out large projects and support businesses and development of the economy of Ukraine.

JSC “CREDITWEST BANK” is a reliable Bank that takes care of its clients.
For more information please contact Creditwest Bank CRM Department, tel. (044) 365 00 05.

Background information:

About EIB:
The European Investment Bank (EIB) is the European Union's bank. It is the long-term lending institution of the EU and is the only bank owned by and representing the interests of the European Union Member States. It makes long-term finance available for sound investments in order to contribute towards EU policy goals. The EIB works closely with other EU institutions to implement EU policy.

The EIB Group has joined forces with the European Union under the Deep and Comprehensive Free Trade Agreement (DCFTA) Initiative East Programme aiming to strengthen economic development in the countries which have signed Association Agreements with the EU – including Ukraine – by providing financial and technical support targeted at SMEs in these three countries.

More about EIB in Ukraine