Odessa Oblast entrepreneurs are able to take advantage of the EBRD and EU credit line

21 March 2019, 14:30
Odessa Oblast entrepreneurs are able to take advantage of the EBRD and EU credit line

Small and medium enterprises of the Odessa region have the opportunity to use the EU4Business-EBRD credit line. This is a joint initiative of the European Bank for Reconstruction and Development and the European Union. It involves the support of private companies registered in Ukraine and employing up to 250 employees. Borrowers can get long-term loans of up to three million euros in the Hryvnia equivalent for the implementation of their own projects.

"International financial organizations play a significant role in lending Ukrainian business, especially when private lenders are not always ready for such investments. This line of credit opens up new opportunities for our companies: they can become more competitive and meet EU standards. The process of allocating funding is quite complex and lengthy, but as a result, the business receives a loan for a specific project at relatively low interest rates, "said Eugene Volynets, Director of the Department of Investments, International and Interregional Cooperation of the Odessa Regional State Administration.

Individual entrepreneurs, small and medium-sized enterprises with a staff of up to 250 people and an annual turnover of up to 50 million euros can become participants of the program; entrepreneurs, the place of registration and the main place of economic activity of which is Ukraine, as well as those, in which not less than 51% of the authorized capital is privately owned.

Note that loans will be provided through local financial partner institutions that will join the program. Credits up to EUR 300,000 are for simple projects, and up to three million euros for complex ones.

Recall that at the initiative of the chairman of the Regional State Administration Maxim Stepanov in the Odessa region there is a program of compensation of interest on loans for entrepreneurs. Currently, 18 enterprises with a total loan portfolio of about 50 million hryvnias have already received the right to compensation. Thanks to the participation in the program, the winners increased their own production, created an additional fifty jobs. In general, they provide work for about 1700 people in the Odessa region.