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Joint Financing Project Introduction

On November 8, 2017 PJSC “CREDITWEST BANK” signed a Sub-financing Agreement with the Ministry of Finance of Ukraine (Lender) and the Public Joint-Stock company “State Export-Import Bank of Ukraine” (Agent Bank) within the framework of the Financial Agreement between the European Investment Bank (EIB)* and Ukraine dated 24.12.2014, aimed at the implementation of the Project "Basic loan for small and medium enterprises and companies with a medium capitalization" (hereinafter - the "Joint Project"). The financial agreement was ratified by the Verkhovna Rada of Ukraine on July 15, 2015.

Within the stated Financial Agreement, Ukraine was granted a loan in the amount of 400 million Euro. According to the Joint Project, funds shall be directed through the Ukrainian commercial banks to support private sector development projects, primarily those of small and medium-sized businesses, as well as social and economic infrastructure projects, energy efficiency and environment protection (climate change mitigation and adaptation) projects.

The Joint Project is being implemented through the provision of credit funds by the Ministry of Finance to the selected participating banks for further financing of clients credit projects by designated banks.

The following types of companies may participate in the Joint Project:

Types of borrowers who can receive credit funds from JSC “CREDITWEST BANK” under the Joint Project:

- SME: Small and Medium sized Enterprises (staff number of up to 250 employees);

- MCC: Mid-Capitalization Companies (staff number from 250 to 3000 employees);

- PSE: Private Sector Enterprises (staff number over 3000 employees)

Terms of financing of the borrowers’ projects under the General Project:

Type of borrower

Project amount

Credit amount by EIB

Share of funding by EIB


Not more than eq. 25.0 million Euro

Not more than eq. 12.5. million Euro

Up to 100% of the project cost


From eq. 25.0 to eq. 50.0 million Euro

Not more than eq. 25.0 million Euro

Up to 50% of the project cost


Not more than eq. 50.0 million Euro

Not more than eq. 25.0 million Euro

Up to 50% of the project cost

Projects that can’t be financed within the framework of Joint Project:

  -Financial operations;

  -Debt refinancing on previously granted loans; Enterprises acquisition;

  -Purchase of farm lands;

  -Acquisition of land, except the cases when it is technically necessary for investments;

  -Construction, renovation, real estate purchase as well with the purpose for further sale or leasing

  -Consumer credit;

  -Costs associated with the acquisition of licenses, quotas, production rights and other rights granted by public authorities;

  -Tax expenses, etc.

Conditions for the provision of credit facilities under the Joint Project

An important condition for the borrowers in the provision of credit funds under the Joint Project is that they have to comply with the requirements of the legislation of Ukraine and the European Union in respect of environmental issues as well to have all the necessary permits for projects realization available.

The Bank guarantees that borrowers obtains a financial advantage (benefit) under the Joint Project, namely: reduction of the interest rate on the loan by 0.25% per annum.

Contact information:

For all questions regarding obtaining credit funds from JSC "CREDITWEST BANK" under the Project "Basic loan for small and medium enterprises and companies with a medium level of capitalization", please contact the Business Development Department of JSC "CREDITWEST BANK" and the Customer Service Department: + 38 044 365 00 05

*The European Investment Bank (EIB) is the only bank representing the interests of the European Union Member States.